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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn
Fri, Jun 22 2018TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.
Nissan to take over for Renault in Formula E
Thu, Oct 12 2017Formula E has generated a lot of news lately, even in the off-season, as major automakers continue to either join the series or express interest in participating. The inclusion of a number of European rivals makes the series particularly interesting. One thing missing from the lineup is a Japanese automaker. That will change, though, as Motorsport reports that Nissan will be taking over its Alliance partner Renault's spot on the starting grid. It's not confirmed when the switch will happen, but with the Renault e.dams Z.E. 17 (seen in testing above) already having been unveiled for next season, it's likely the switch will come in for the 2018/19 season when the series moves away from the practice of swapping cars mid-race. Renault has been a successful part of Formula E from the very beginning, providing (with partner Spark) the cars each team used in the first season, and scoring the series' first Team Championship in 2015, and then again in 2016 and 2017. Nissan, though, has the globally popular Leaf EV, and has been eyeing an entry into Formula E for some time now. Joining the series will not only boost the visibility of Nissan's electrification strategy, it will do the same for its Nismo arm as well (and, as we've already learned, there could be a Leaf Nismo offered in the future). The change would also free up resources for Renault to focus on its F1 efforts. As Motorsport also reports, Formula E CEO Alejandro Agag has said of the Japanese brands Nissan, Honda and Toyota, that "one of those three, maybe two, will end up" in the electric racing series, without elaborating further. Nissan isn't expected to confirm its Formula E entry soon, but it could happen at the Geneva Motor Show next year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: MotorsportImage Credit: Formula E Green Motorsports Nissan Renault Green Culture Electric Racing Vehicles Formula E nismo fia formula e championship
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