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FCA-Renault merger talks: France wants job guarantees and Nissan on board

PARIS — France will seek protection of local jobs and other guarantees in exchange for supporting a merger between carmakers Renault and Fiat Chrysler, its finance minister said on Tuesday, underscoring the challenges facing the plan. Renault Chairman Jean-Dominique Senard arrived in Japan to discuss the proposed tie-up with the French company's existing partner Nissan — another potential obstacle to the $35 billion-plus merger of equals. Renault and Italian-American rival Fiat Chrysler Automobiles (FCA) are in talks to tackle the costs of far-reaching technological and regulatory changes by creating the world's third-biggest automaker. Nissan found out about Renault's merger talks with Fiat Chrysler only days before they became public, four sources told Reuters, stoking fears at the Japanese carmaker that a deal could further weaken its position in a 20-year alliance with Renault. A deal between Renault and FCA would create a player ranked behind only Japan's Toyota and Germany's Volkswagen and target 5 billion euros ($5.6 billion) a year in savings. Some analysts, however, say the companies face a challenge to win over powerful stakeholders ranging from the French and Italian governments to trade unions and Nissan. Patrick Pelata, a former Renault chief operating officer, also criticized the deal plan for undervaluing Renault and threatening to overstretch its engineering resources. By valuing Renault at its market price, the all-share offer attributes a negative 6 billion euro value to Renault operations after deduction of its 43.4% stake in Nissan and 3.1% Daimler holding, Pelata told BFM radio. "That's hardly reasonable," he said. "And I think that shareholders, including the French state, are bound to take issue with this sooner or later." Pelata added: "FCA has big problem because they haven't invested for the future — they have no electric vehicle platform and they've done nothing in autonomous cars." French finance minister Bruno Le Maire told RTL radio on Tuesday that the plan was a good opportunity for both Renault and the European car industry, which has been struggling for years with overcapacity and subdued demand. France sets conditions Le Maire also said the French government would seek four guarantees in exchange for backing a deal that would reduce its 15% stake in Renault to 7.5% of the combined entity. "The first: industrial jobs and industrial sites.

Deltawing takes out second ad targeting Nissan amidst design lawsuit

Don Panoz isn't a guy shy away from a fight. Since December, Panoz's Deltawing Technologies has been in a lawsuit with Nissan over alleged intellectual property violations with the design of the Zeod RC. The situation went public several weeks ago when Deltawing bought an ad in The Tennessean, a paper near Nissan's US headquarters, and the industry trade, Automotive News, aimed squarely at company CEO Carlos Ghosn.
Now, Deltawing is trying the tactic a second time with an even more scathing ad in The Tennessean on July 11 and in Automotive News on July 14 that calls the Zeod's design out directly. The bulletin puts the two racecars side by side and asks readers compare their similarities.
According to Deltawing spokesperson Gary Fong, the idea for these ads started after mediation between the company and Nissan broke down earlier this year. "We were trying to bring them to settle it amicably," he said to Autoblog. When that didn't happen, Deltawing wanted to fight the misconceptions in the public about the program and lawsuit. The strategy actually worked, too. "We've seen an opinion change," said Fong. He estimates that before the advertisements the attitude was "90 percent against Panoz," but there has been more support since them.

Nissan recalls over 220k Altima sedans over hoods that could fly open

Nissan will be recalling 220,000 Altima sedans, according to a new recall bulletin from the National Highway Traffic Safety Administration. Apparently, model year 2013 Altimas built between March 6, 2012 and February 28, 2013 are at risk of their hoods flying open at speed.
According to NHTSA, debris, corrosion and interference between the hood's inner panel and the secondary latch lever could bind the mechanism in the unlatched position. While this in itself won't cause the hood to fly open - there's still a primary latch that needs released from within the cabin - it presents a potentially dangerous situation should the primary latch be accidentally released.
Nissan will begin notifying owners of the affected vehicles, who will need to report to their local dealer for free repairs. Scroll down for the full bulletin from the government safety watchdog.