2013 Nissan Pathfinder Platinum on 2040-cars

Auto blog

Renault splits into 5 businesses in drive to boost profit

  PARIS — French car maker Renault announced a major overhaul that will see it separate its activities in five businesses, deepen ties with China's Geely and spin off its electric vehicles unit through a stock market listing next year. At a long-awaited investor presentation on Tuesday, Renault said it targeted operating margins of 8% for 2025 and rising to more than 10% in 2030, from 5% expected this year. It also plans to reinstate dividends from 2023 after a three-year hiatus, and generate more than 2 billion euros of cash annually between 2023-25, growing to more than 3 billion euros in the following five years. An early mover in the electric car race, Renault has fallen behind newer, more agile rivals like Tesla. After needing emergency state cash during the COVID pandemic, the group is looking to extend on a turnaround following losses in 2019 and 2020, and increase the valuation of its different parts. But big question marks remain on its strained relationship with long-standing Japanese partner Nissan, as Renault looks for other outside investors for each of its divisions. The main plank of the car maker's strategy is separating its combustion engine business — which will partner with Geely in a 50-50 joint venture, also announced on Tuesday — from its electric vehicle unit, to be listed in the second half of next year. Nissan is expected to take a stake in the EV venture, codenamed "Ampere," alongside other investors, though Renault will keep a majority stake. Talks with Nissan have been dragging on, amid Japanese reservations about sharing technology with others, including a Chinese rival like Geely, sources have told Reuters. Shares in Renault fell 2% by 1254 GMT after earlier dipping more than 4% as it gave little detail on the state of play of the discussions with Nissan on the future of their partnership. Renault CEO Luca De Meo said the group wanted to give the alliance a strong future and a "new chance." But he also said that — as in a marriage — "it is important for us to have our own hobbies and our own life." The companies had initially set a Nov. 15 target to reach a deal, but no announcement is now expected on that date, according to people familiar with the talks. Aside from the Ampere EV unit and the combustion engine division, Renault will have an additional three businesses — the Alpine sports-car brand, financial services and new mobility and recycling activities.

Nissan's Ghosn called out by Deltawing's Panoz in print ad

When the Nissan ZEOD RC limped to the side of the Circuit de la Sarthe a mere five laps into this year's 24 Hours of Le Mans, we imagine that a certain American motorsports figure at least smirked a little. Don Panoz's ongoing feud with Nissan probably means he wasn't sorry to see the arrow-shaped racecar's poor showing, and now he's stepping up his campaign against his former racing partner.
For those who need a refresher, back in 2012, Panoz and Nissan teamed up to field the DeltaWing, an innovative, wedge-shaped racer, as the first entry in the 24 Hours of Le Mans' experimental Garage 56 concept. The car rapidly became a fan favorite. The Panoz/Nissan alliance didn't last, though, and before long, the DeltaWing's designer was getting a paycheck from Nissan and the ZEOD RC racer arrived. Shortly after that, Panoz began mulling over a lawsuit alleging intellectual property infringement. The American motorsports icon would eventually pull the trigger on a suit back in December of 2013.
Panoz's latest move in the ongoing feud involves an open letter in both The Nashville Tennessean, the paper that serves Nissan's US headquarters, and trade paper Automotive News. The letter calls out Renault-Nissan CEO Carlos Ghosn directly, and points out some of the similarities between the DeltaWing and the ZEOD RC, going so far as to quote the original car's designer, Ben Bowlby.

Recharge Wrap-up: Nissan Leaf brake investigation, EV market will grow in China

Electric vehicles are expected to significantly cut into the gasoline-powered vehicle market in China. According to analysts at Frost & Sullivan, gas vehicles will drop to 94.9 percent of the market, while EVs will reach 4.2 percent by 2020. China's EV incentives, as well as a push in technology innovations, are credited for the rising popularity of plug-in cars. Despite awareness issues and supply shortages holding EVs back, "the Chinese powertrain market will remain buoyant, with increased customer purchasing power and self-esteem needs triggering vehicle sales," according to Frost & Sullivan researcher Ming Lih Chan. The big winners in this equation will be the suppliers of EV components in China. Read more in the press release below. The Canadian government is investigating possible brake failure issues with the Nissan Leaf. The Transport Canada investigation will look at 2013 to 2015 models, which could be experiencing brake malfunctions in severe cold weather. In the US, drivers have reported problems such as aggressive response to driver input and jerky braking, with some problems going away when the weather got warmer. NHTSA hasn't begun an investigation of its own, so far. Read more at Hybrid Cars. Sunspeed Enterprises has started an Indiegogo campaign to fund the installation of EV chargers along the Pacific Coast Sun Trail. As part of creating a 700-mile network of EV Infrastructure along the Pacific Coast Highway, this particular campaign is helping pay for a charging hub powered by renewable energy at the Madonna Inn in San Luis Obispo, California. Donors will receive rewards such as shirts and mugs, as well as charging credits and discounts. At the highest level, a $10,000 donation will net the donor free charging for life at any Sunspeed charging hub. Learn more at Indiegogo. Featured Gallery 2013 Nissan Leaf View 55 Photos News Source: Frost & Sullivan, Hybrid Cars, Transport Canada, Indiegogo Green Recalls Nissan Safety Electric recharge wrapup