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Nissan CEO Makoto Uchida rules out closer capital ties with Renault

YOKOHAMA — Nissan is committed to its automaking alliance with Renault but will not look to deepen its capital ties with the French automaker any time soon, its new CEO said on Monday. On his first day in the new position, chief executive Makoto Uchida also pledged to repair profitability at Japan's No. 2 automaker and said setting realistic targets would be key toward that goal, as it tries to make a clean break from the leadership of former chairman Carlos Ghosn. "Closer capital ties with Renault are not a focus in the short term," he told reporters. Uchida became CEO of Nissan on Dec. 1, as the car maker tries to recover from a profit slump and draw a line under a year of turmoil after the Ghosn scandal. The ousted chairman is fighting financial misconduct charges in Japan. One of the new CEO's big tasks is to salvage ties with Renault, which have deteriorated since Ghosn's ouster as chairman of both companies. Renault holds a 43.4% stake in Nissan after it saved the Japanese automaker from financial ruin two decades ago, and has pushed for the two companies to merge. In rejecting a notion of a merger with Renault, Uchida, 53, echoes his predecessor Hiroto Saikawa, who stepped down in September. He added that the alliance must re-think how it can serve all of its three members, which also includes Mitsubishi Motors. "The alliance has to benefit each of its partners in terms of revenue and profit," he said. "We need to re-evaluate what has worked and what hasn't worked in the alliance in the past few years." The CEO called for Nissan to set "challenging but achievable" targets, adding that this and the launch of more new car models and vehicle technologies would be key to its financial recovery. Nissan is bracing for its lowest annual profit in 11 years and has slashed its dividend by 65%. Its struggles come at a time when car companies desperately need scale to keep up with sweeping technological changes like electric vehicles and ride-hailing. "Somewhere along the way we created a culture of setting targets which could not be achieved," Uchida said, adding that this had resulted in a focus on short-term results. "Years of this had led Nissan to its current "difficult situation," he said, using heavy vehicle discounting in the U.S. market as an example of how aggressive sales targets to grow market share had deteriorated the company's brand.

Feds Probe Nissan Cars For Unintended Acceleration

DETROIT (AP) - The U.S. government's road safety agency is investigating complaints that a trim panel can cause unwanted acceleration in Nissan Versa small cars. The probe covers about 360,000 Nissan Versa and Versa Note subcompacts from the 2012 through 2014 model years. The National Highway Traffic Safety Administration says in documents posted Saturday on its website that four drivers have complained that a trim panel near the gas pedal can trap the edge of a driver's shoe. This can stop the driver from releasing the gas pedal quickly and delay braking. There are no reports of crashes or injuries, although one driver complained of a close call at an intersection on June 9. As the driver accelerated to make a left turn, a plastic trim panel that covers the center console trapped the driver's shoe and stopped it from moving off the gas pedal, the complaint said. "I used my right hand to grab my leg and pulled harder, immediately braking hard, then backing my foot off the brake as I squealed and skidded around the corner, almost going over the curb and crashing," the driver wrote. The driver reported that the edge of the trim piece wasn't secured and trapped the sole of a leather work boot. Drivers who file complaints are not identified by NHTSA. Two of the four complaints were from drivers of rental cars, the agency said. A fifth complaint was filed in an unidentified foreign country, according to NHTSA. Investigations can lead to recalls but so far there are none in this case. Messages were left seeking comment Saturday from a Nissan spokesman. Related Gallery AOL Autos Test Drive: 2014 Nissan Versa Note Recalls Nissan unintended acceleration nissan versa nissan versa note

10 electric cars we’re excited are coming soon

If you were considering buying an electric vehicle a couple years ago, we wouldn't fault you for thinking your options were limited, both in terms of quantity and quality. You just might not have been able to find an electric car that would suit your needs, lifestyle or budget. With the newest generation of EVs that have launched in the past year or two, your options have changed — and improved — dramatically. If you still don't see an EV you like, just wait a little while longer. It won't take long. There are a whole lot more on the horizon, and the problem may soon be in narrowing down your options. To give you an example, here are 10 electric vehicles we're excited about that you'll be able to buy very soon, from GM, from Germany, from Japan and more. Some of these will be available by the end of the year, and all are expected to launch by the end of 2023. The Chevy trio: 2024 Blazer EV, Equinox EV and Silverado EV GM is stepping into the future with strong footing. Following high-end electric launches from GMC (Hummer EV) and Cadillac (Lyriq), Chevrolet is bringing three electric vehicles with familiar nameplates. The 2024 Chevy Blazer EV (above left) will offer a number of versions, starting with the 2LT and RS trims in the summer of 2023, followed by the 557-horsepower SS in the fall and the base 1LT in early 2024. The 2024 Chevy Equinox EV (above right) will go on sale in fall 2023 as a limited-edition model, with volume sales ramping up in 2024, with a base cost of “around $30,000.” For those who prefer a bed to a liftgate, the 2024 Chevy Silverado EV is an electric pickup that looks more like the old Chevy Avalanche than the current Silverado. The WT (work truck) trim launches in fall 2023, while the 664-horsepower RST will follow in 2024. Read more: 5 new electric car companies coming in 2023 and beyond 2023 BMW i7 BMW revealed the all-electric 2023 i7 luxury sedan alongside the gas-powered 7 Series. It should go on sale before the end of 2022. The i7 xDrive60 will be the only variant, with its two motors providing a total of 536 horsepower and 549 pound-feet of torque, and its battery expected to offer a range of about 300 miles. Just like its internal combustion counterpart, this full-size sedan wonÂ’t come cheap, with the i7 starting at $120,295. 2023 Hyundai Ioniq 6 Following the Hyundai Ioniq 5, Kia EV6 and Genesis GV60, the 2023 Hyundai Ioniq 6 will be the fourth car using Hyundai GroupÂ’s E-GMP electric car architecture.