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Nissan tells Renault it is 'not opposed' to Fiat Chrysler merger plan
Wed, May 29 2019TOKYO – Nissan on Wednesday told Renault it wasn't opposed to its partner's potential $35 billion merger with Fiat Chrysler, the Nikkei newspaper said, as the two met to hash out the future of their alliance amid a deal that could upend the auto industry. The leaders of Nissan Motor Co, France's Renault SA and junior partner Mitsubishi Motors Corp gathered at Nissan's headquarters in Yokohama for a scheduled alliance meeting - one overshadowed by Fiat Chrysler's proposal this week for a merger-of-equals with Renault. The plan, which would create the world's third-largest automaker, raises difficult questions about how Nissan would fit into a radically changed alliance. Renault Chairman Jean-Dominique Senard arrived in Japan on Tuesday to discuss the proposed tie-up with Nissan, 43.4% owned by the French automaker. "We are not opposed," the Nikkei quoted an unnamed Nissan source who had attended the meeting as saying. The person also said "many details need to be worked out" before the Japanese automaker solidifies its position on the issue, the Nikkei reported. In a statement, the alliance members confirmed that they had "an open and transparent discussion" on the proposal. The deal looks designed to tackle the costs of far-reaching technological and regulatory changes, including the drive toward electric vehicles. Nissan, which has rebuffed overtures by Renault for a merger of their own despite their 20-year alliance, was blindsided by the discussions, sources have told Reuters, stoking concerns that a deal with Fiat Chrysler could weaken Nissan's relations with Renault. The tie-up also poses an additional challenge for Nissan CEO Hiroto Saikawa, already grappling with poor financial performance and an uneasy relationship with Renault after Nissan led the ousting last year of long-standing alliance chairman Carlos Ghosn. There have long been tensions between Nissan and Renault over the imbalance of power in their alliance. Nissan, the bigger company, holds a 15% non-voting stake in the French automaker, while Renault owns 43.4% of Nissan. Ahead of Wednesday's meeting, Japanese media quoted Saikawa as telling reporters that he would look at the potential opportunities afforded by a Renault-FCA merger. Credit ratings agency Moody's said it was vital for Nissan to stabilize its partnership with Renault to expand operational synergies and improve margins.
Carlos Ghosn to step down as Nissan CEO on April 1
Thu, Feb 23 2017Carlos Ghosn announced he will be stepping down as CEO of the Nissan on April 1, to be replaced by current Nissan co-CEO Hiroto Saikawa. The move comes after close to two decades of leadership and the rebuilding of a company that was close to disaster. Ghosn isn't finished with the company he helped rebuild, as he will remain on as chairman of the board and continue on as leader of the Renault-Nissan Alliance following the change of guard. In addition to running Renault-Nissan, Ghosn has taken over as chairman of Mitsubishi Motors after acquiring a 34-percent stake in 2016, a move he spearheaded. Ghosn stated, "I am confident that the management team I have developed at Nissan over the past 18 years has the talent and experience to meet the company's operational and strategic goals. Having recently taken on new responsibilities at Mitsubishi Motors, and taking into consideration the upcoming Nissan general shareholders meeting, I have decided that the time is right for Hiroto Saikawa to succeed me as Nissan's CEO." A release from Renault-Nissan said the move allows Ghosn to focus more attention on bringing together the three companies. Saikawa, his replacement, has been with Nissan since 1977 and has overseen operations in the company's markets worldwide. Related Video: Image Credit: Reuters Hirings/Firings/Layoffs Mitsubishi Nissan Renault ceo nissan renault
Nissan recalls 640k crossovers for wiring issue, hood release
Wed, Jan 28 2015The National Highway Traffic Safety Administration has announced two separate recalls affecting hundreds of thousands of Nissan crossovers. The larger of the two involves the electrical system in 2008-2013 model year Rogue CUVs. In affected vehicles, a mixture of moisture and salt seeping in through the carpet on the driver's side could cause the harness connector to short, potentially causing a fire. The issue involves Nissan Rogues manufactured between March 7, 2007, and November 26, 2013, as well as examples of the 2014 Rogue Select manufactured between September 23, 2013, and July 2, 2014. All told, that comes to an estimated 468,815 units in the United States alone. The second recall affects the relatively smaller quantity of 170,665 vehicles, made up of 2013-14 Nissan Pathfinder, 2014 Pathfinder Hybrid, 2013 Infiniti JX35, 2014 QX60 and 2014 QX60 Hybrid models. (The JX35 was recently relabeled as the QX60 under Infiniti's new nomenclature.) The issue affecting some of those vehicles revolves around a hood release cable that may not properly latch. Nissan is notifying owners of the affected units to bring their vehicles in to have the wiring checked and to replace the harness connector and seal in the former case, and to have the hood release mechanism modified in the latter. All told, an estimated 639,480 vehicles are being recalled as part of the two campaigns. RECALL Subject : Electrical Short Due to Water Seepage Report Receipt Date: JAN 26, 2015 NHTSA Campaign Number: 15V032000 Component(s): ELECTRICAL SYSTEM Manufacturer: Nissan North America, Inc. SUMMARY: Nissan North America, Inc. (Nissan) is recalling certain model year 2008-2013 Nissan Rogue vehicles manufactured March 7, 2007, to November 26, 2013, and 2014 Nissan Rogue Select vehicles manufactured September 23, 2013, to July 2, 2014. The affected vehicles may experience an electrical short in the harness connector due to a mixture of snow/water and salt seeping through the carpet on the driver side floor near the harness connector. CONSEQUENCE: An electrical short can cause a vehicle fire. REMEDY: Nissan will notify owners, and dealers will inspect the kick panel wiring harness connector and will if necessary install a new harness connector and waterproof seal, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Nissan customer service at 1-800-647-7261.