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Renault shares hit six-year low on rumors of Nissan split

LONDON — Renault shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the shares were down 3.7%, languishing at the bottom of Paris' CAC 40 and the pan European STOXX 600 index. The plans include war-gaming a total split in engineering and manufacturing, as well as changes to Nissan's board, the Financial Times newspaper reported on Sunday citing several sources. Nissan's contingency planning has ramped up since the dramatic escape of Ghosn, the former head of the Renault-Nissan  alliance, from Japan in late December, it said. The tie-up has been in management turmoil since Ghosn's arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies. He was awaiting trial in Japan when he fled to Lebanon. "We firmly believe the relationship between (Renault and Nissan) and hence the Alliance is broken and is likely beyond the point of repair," Evercore ISI analysts Arndt Elinghorst and Chris McNally wrote in a note on Monday. They have an 'underperform' rating on the French car company. Renault was not available for immediate comment. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Mitsubishi Nissan Renault

Recharge Wrap-up: Nissan and Endesa launch V2G project; BMW denies Apple will use i3

Nissan and Endesa will work together to deliver a mass-market vehicle-to-grid (V2G) system. The technology would allow users to charge their vehicle during off-peak hours, and sell energy back to the grid during periods of high demand. The two companies are looking to launch V2G technology in Europe, as well as exploring second-life projects using retired EV batteries for stationary energy storage. V2G allows users to lower the cost of ownership of their EV, and also helps stabilize the grid, particularly in countries that use a large amount of renewable energy. Endesa will demonstrate its V2G technology system in Madrid on March 12. Read more from Nissan. BMW denies reports that Apple will build a car based on the i3. German magazine Auto Motor und Sport said that such a deal was in the works, and that the Apple car could be sold by Apple and serviced by BMW. "We are in regular talks with companies from the IT and telecommunications sector, including Apple, concerning topics like connected vehicles," says BMW. "Developing or building a car is not a topic of these discussions." Anonymous sources say that Apple could have a car available for production in 2020. Read more at Automotive News Europe. BluepointLondon will take over the management of 60 EV charging stations from Transport for London. The 60 chargers are in the boroughs of Southwark and Sutton, and Bluepoint expects to take over management of charging infrastructure in other London boroughs as well. "A better maintained and more extensive charging infrastructure will mean more drivers are able to use electric vehicles and join the early-adopters who are already helping London reach lower emissions level," says BluepointLondon Director Christophe Arnaud. "We are very excited to be playing our part." BluepointLondon aims to manage 6,000 charging points in London by 2018. Read more in the press release below. Efficient Drivetrains, Inc. (EDI) offers plug-in hybrid conversions for GM light-duty trucks. The PHEV drivetrain offers all the performance of the original model, but reduces consumption and emissions by as much as 80 percent. It offers 30 to 40 miles of all-electric range plus enough energy to act as an idle-free power supply for tools and the like without depleting range. The EDI drivetrain can even be used to charge other EVs. Says EDI's Charlie Travis, "The light duty truck class is an important and high-volume vehicle category for fleet owners.

Toyota, Honda, Mazda and Nissan recall 3.4 million vehicles for faulty airbags

Most vehicle recalls that take place these days are a result of some problem that happens during the manufacturing process by the automaker, but as we see here, parts suppliers can also factor in to problematic safety issues. Automotive News is reporting that a total of 3.4 million vehicles produced by Japanese automakers between 2000 and 2004 are being recalled globally due to faulty airbags produced by an outside supplier, Takata Corp.
According to the report, vehicles from Toyota, Honda, Nissan and Mazda are being recalled because of passenger front airbags that do not inflate properly. Globally, Toyota is said to be recalling around 1.73 million cars including 510,000 in the US composed of Toyota Corolla, Matrix, Sequoia and Tundra as well as the Lexus SC430 for the 2001 through 2003 model years; this is the second time this year the 2003 Corolla and Matrix have been recalled for an airbag problem. Honda is recalling 1.14 million models, Nissan another 480,000 and Mazda 45,463. The article says that Takata supplied faulty airbags to non-Japanese automakers, but it did not specify which ones.
Honda and Toyota have released information on their own websites about the recall, while Nissan and Mazda have not yet commented. Read official press releases from Honda and Toyota, below, and look for updates as we have word from the others.