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☆ Deal for Formula 1 Team Reflects Growing U.S. Interest in the Sport
▼ + stars: | 2023-06-26 | by ( Lauren Hirsch | ) www.nytimes.com time to read: +1 min

They are buying a 24 percent stake in Alpine F1 Team owned by Renault Group. The investors are paying about 200 million euros ($218 million) for the stake, valuing the team at roughly $900 million. Formula 1 has jumped in popularity in the United States since its sale to Liberty Media in 2017. For Renault, the Alpine deal is aimed at raising the visibility of its Alpine electric vehicle line, as it pushes to have more than half its sales in E.V.s by 2030. In a news release, Renault’s chief executive, Luca de Meo, said the deal would increase the value of the Alpine F1 brand.

Persons: Ryan Reynolds, ”, Luca de Meo Organizations: RedBird Capital Partners, Otro, Alpine F1 Team, Renault Group, Liberty Media, Netflix, Renault, Alpine Locations: United States, Las Vegas, Miami, E.V.s

TOKYO, June 24 (Reuters) - Nissan (7201.T) has launched an investigation into claims by a senior adviser that Chief Executive Makoto Uchida carried out surveillance of his deputy Ashwani Gupta, four people with direct knowledge of the matter said. In the letter, Nada said Uchida carried out surveillance over a long period. Asked to comment on the surveillance investigation, Nissan said in response to Reuters: "Independent third parties have been retained to verify facts and carry out appropriate actions." Nada did not detail in the letter how he knew of the alleged surveillance of Gupta. Nada is a member of two executive committees established by Nissan in 2019 as part of a governance reform after the Ghosn scandal.

Persons: Makoto Uchida, Ashwani Gupta, Hari Nada, Nada, Uchida, Renault, Gupta, Nissan, Akira Takeuchi, Anderson Mori, Tomotsune, Carlos Ghosn, Ghosn, Jean, Dominique Senard, Luca de Meo, de Meo, Greg Kelly, Nissan's, Ampere, David Dolan, Gilles Guillaume, Kevin Krolicki, David Clarke Organizations: Nissan, Financial Times, Reuters, Renault, NISSAN, RENAULT, Thomson Locations: TOKYO, Tokyo, Lebanon, Japan, Paris

☆ Renault names Luca de Meo as new head of Ampere electric vehicle unit
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

PARIS, June 19 (Reuters) - French carmaker Renault (RENA.PA) appointed on Monday its group chief executive Luca de Meo as the future chairman and CEO of Ampere, the electric vehicle division which Renault is aiming to list on the stock market. Renault added that its board of directors had also set up an ad-hoc committee, chaired by Jean-Dominique Senard, to oversee the envisaged initial public offering (IPO) of Ampere. Reporting by Sudip Kar-Gupta; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: carmaker, Luca de Meo, Ampere, Jean, Dominique Senard, Sudip Kar, Alison Williams Organizations: carmaker Renault, Renault, Thomson

☆ Mercedes won't join Renault's new electric van project-sources
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +1 min

PARIS, June 2 (Reuters) - Mercedes Benz Group (MBGn.DE), a longtime partner of Renault (RENA.PA) in vans, won't take part in the French company's FlexEvan electric project and will focus instead on its own premium electric vehicle VAN.EA, two sources with knowledge of the matter said. A spokeswoman of Mercedes confirmed that the group had no plan to launch a mid-sized van or a large one on a different platform than VAN.EA. Renault has long sought to expand its cooperation in vans with Mercedes, but in vain. "It is true that for light commercial vehicles, the bulk (of the cooperation with Mercedes) has been done", one of the sources said. Reporting by Gilles Guilaume; Editing by Silvia Aloisi and David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: FlexEvan, Mercedes, Luca de Meo, Carlos Ghosn, Gilles Guilaume, Silvia Aloisi, David Holmes Organizations: Mercedes Benz Group, Renault, Nissan, Renault Trucks, Sweden's Volvo, Mercedes, Daimler, Thomson Locations: U.S

☆ Carmakers are poised for EV race to the bottom
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +2 min

On Thursday, the near 10 billion euro carmaker Renault (RENA.PA) appeared to have finally turned a corner after a painful pandemic. A Tesla-induced price war would be particularly painful for European carmakers like Renault, which is forecast to record an abysmal operating margin of around 6% this year, Refinitiv data show. But if Musk’s plan works and he hoovers up market share, Renault and its peers may have no choice. The party for European EV carmakers could be over just as it started. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Anger Mounts Over Ohio Train Derailment: ‘They Don’t Have the Answers’
▼ + stars: | 2023-02-17 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

What the Renault-Nissan Shakeup Says About the Global Auto Industry Renault CEO Luca de Meo and Nissan CEO Makoto Uchida spoke to The Wall Street Journal about the reorganization of their alliance in a deal that gives both companies more autonomy. WSJ’s Nick Kostov explains the factors behind the decision and what it means for auto makers and investors. Photo Composite: Adele Morgan

☆ Watch: Unseen Titanic Wreck Expedition Footage Released
▼ + stars: | 2023-02-17 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ Buffalo Supermarket Shooter Rushed in Court During Sentencing
▼ + stars: | 2023-02-16 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

☆ Renault CEO questions wisdom of electric vehicle price cuts
▼ + stars: | 2023-02-16 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Renault CEO Luca de Meo on Thursday questioned the wisdom of price cuts rivals have been implementing in a bid to bolster market share for their electric vehicle fleets. Ford followed on Jan. 30 with price trims for its electric Mustang Mach-E crossover. However, De Meo signaled that sales price volatility could erode consumer confidence in EV products. "Because those kinds of swings are kind of value destroying for the customer, think about residual value, etc. Under the reshaped, previously lopsided alliance, Renault will reduce its shareholdings in Nissan from roughly 43% to 15%.

☆ Alpine set out season goals and bring on Zidane
▼ + stars: | 2023-02-16 | by ( Alan Baldwin | ) www.reuters.com time to read: +3 min

SummarySummary Companies Alpine launch new A523 car in LondonSet goal of defending fourth place and closing gap to top threePresent soccer great Zidane as brand ambassadorLONDON, Feb 16 (Reuters) - Renault-owned Alpine set out their goals for the Formula One season on Thursday before unveiling French soccer great Zinedine Zidane as a surprise signing. "I am very happy to be here today and happy to be part of the Alpine team," Zidane told the surprised audience in a former newspaper printing site in London's Docklands. "The gap to third was big and we've got to close that gap," said team principal Otmar Szafnauer. Ocon is in his fourth year at the team while Gasly has joined from Red Bull-owned AlphaTauri. The 23-race season starts at the Sakhir circuit on March 5, with pre-season testing there next week.

☆ What the Renault-Nissan Shakeup Says About the Global Auto Industry
▼ + stars: | 2023-02-13 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

What the Renault-Nissan Shakeup Says About the Global Auto Industry The alliance was plagued by rivalry and suspicion, rising when Carlos Ghosn was ousted as the companies' leaderBy Wall Street Journal Feb 13, 2023 10:57 am Renault CEO Luca de Meo and Nissan CEO Makoto Uchida spoke to The Wall Street Journal about the reorganization of their alliance in a deal that gives both companies more autonomy. WSJ’s Nick Kostov explains the factors behind the decision and what it means for auto makers and investors. Photo Composite: Adele Morgan

☆ From boom to bottom and now big change: Renault and Nissan reshape alliance
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +5 min

It gave Nissan a 15% stake in Renault, on a par with the French state, but no voting rights. The alliance was thrown into turmoil following Ghosn's arrest on financial misconduct charges in late 2018 and his subsequent ouster as alliance chairman. 2002 Nissan announces its "Nissan 180" three-year plan, targeting an increase of 1 million vehicles in global sales by 2005. 2017 Both Nissan and Renault post record operating profits, though Nissan still falls short on some targets. Alliance Chairman Senard rules out any merger of the carmaking partners, saying they don't need to combine to be efficient.

☆ Analysis: Renault cedes power at Nissan for uncertain benefits
▼ + stars: | 2023-01-30 | by ( Gilles Guillaume | ) www.reuters.com time to read: +5 min

[1/2] The Nissan logo is seen on a car wheel at Nissan Gallery in Yokohama, Japan November 29, 2021. REUTERS/Androniki ChristodoulouPARIS, Jan 30 (Reuters) - Renault and Nissan hailed a new deal announced on Monday as a major step in reviving their two decade alliance. The deal, months in the making and still subject to board approvals, will see Renault (RENA.PA) reduce its stake in Nissan to 15% from around 43%. The deal sees Nissan commit to invest in Renault's flagship Ampere electric vehicle unit, which was the French group's key goal. "It is interesting for Renault to see Nissan enter Ampere, if only for financing projects.

TOKYO/PARIS, Jan 26 (Reuters) - French car maker Renault (RENA.PA) and its Japanese partner Nissan Motor (7201.T) aim to formally unveil a deal to reshape their alliance in London on Feb. 6, two sources close to the matter told Reuters on Thursday. Renault has consistently declined to comment publicly about the talks with its Japanese partner, while a spokesperson for Nissan declined to comment on Thursday. French newspaper Le Figaro reported late on Wednesday that the companies would announce 4 to 5 joint projects to relaunch the alliance. The future shape of the Franco-Japanese alliance has implications for both companies as well as their junior partner, Mitsubishi Motors Corp (7211.T). Renault, for instance, has said it will partner with companies from China's Geely Automobile Holdings (0175.HK) to semiconductor giant Qualcomm Inc (QCOM.O).

☆ From boom to bottom and now big change: Renault and Nissan look to reshape alliance
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +5 min

☆ Nissan and Renault close in on overhaul of alliance
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

TOKYO/PARIS, Jan 26 (Reuters) - Nissan and Renault are closing in on a sweeping overhaul of their globe-spanning automaking alliance as top executives meet on Thursday for talks to reset the two-decade-old partnership and chart a course for an uncertain electric future. Leaders of Nissan Motor Co Ltd (7201.T) and Renault SA (RENA.PA) are meeting via video link for an alliance board meeting, sources previously told Reuters. The future shape of the Franco-Japanese alliance has implications for both companies as well as their junior partner, Mitsubishi Motors Corp (7211.T). Renault, for instance, has said it will partner with companies from China's Geely Automobile Holdings (0175.HK) to semiconductor giant Qualcomm Inc (QCOM.O). Nissan has been concerned that the technology it has developed while partnered with Renault could leak to the French automaker's partners as it restructures, Reuters has reported.

☆ Nissan-Renault deal on alliance could come as early as Feb. 1 - source
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

PARIS, Jan 19 (Reuters) - A deal between French carmaker Renault (RENA.PA) and Japanese partner Nissan (7201.T) could be announced as early as Feb. 1 as months of negotiations on how to reshape their alliance progress, a source familiar with the matter said on Thursday. The deal would see Renault cut its stake in Nissan to 15%, equalising the carmakers' holdings in each other, sources previously told Reuters. Renault has consistently declined to comment publicly about the timing of a possible deal announcement. The potential deal will be examined again by an alliance board meeting on Jan. 26 in Japan, which could be attended by de Meo and Renault Chairman Jean-Dominique Senard, the source said. The timetable could change, but both companies would prefer to make a formal announcement before the release of their annual results, scheduled for Feb. 9 for Nissan and Feb. 16 for Renault, the source said.

☆ Nissan directors endorse steps to reach deal with Renault-sources
▼ + stars: | 2023-01-17 | by ( Maki Shiraki | ) www.reuters.com time to read: +3 min

The Nissan board-level review also marked progress after three months of working-level negotiations aimed at restructuring a partnership that dates back to 1999, when Renault bailed out Nissan. The Nissan outside directors, meeting in committee, endorsed steps to try to reach an agreement between the two sides, they said. The two companies are discussing reducing Renault's stake in Nissan from the current 43% to 15%, equal to Nissan’s stake in Renault. The 28% stake in Nissan that Renault would sell would be transferred to a trust, people involved have said. At the same time, Nissan is considering investing in a new electric vehicle company that Renault aims to establish code-named Ampere.

Renault and Nissan declined to comment. The two sides have been in intensive negotiations since October when Renault CEO Luca De Meo went to Japan to meet Nissan CEO Makoto Uchida. Renault is looking for Nissan to invest in an electric-vehicle business it will carve out of its operations, while Nissan wants Renault to sell most its roughly 43% stake in Nissan to put the 23-year alliance on a more equal footing, Reuters has previously reported. The details of Renault's proposed protections for Nissan technology were not immediately known. Nissan holds 15% of Renault and does not hold voting rights.

☆ Renault considers making mass-market EVs in India, sources say
▼ + stars: | 2023-01-09 | by ( ) www.cnbc.com time to read: +3 min

It also points to the shifting perception of the auto market in India, which posted the fastest growth of any major market in 2022. Renault is studying launching a made-in-India electric version of its Kwid hatchback, the people told Reuters. Renault India declined to comment on product plans but said the company has a "strong focus on electrification globally" as part of the strategy outlined by CEO Luca de Meo and that "India is one of the key markets" for the group. India is set to become the world's third-largest market for passenger and other light vehicles, displacing Japan, according to a forecast by S&P Global Mobility. Industry-wide sales grew an estimated 23% to 4.4 million vehicles in 2022.

[1/2] The rear light of a Dacia Spring electric car is pictured during the Brand Manifesto Dacia event at Le Bourget near Paris, France, September 13, 2022. It also points to the shifting perception of the auto market in India, which posted the fastest growth of any major market in 2022. Renault is studying launching a made-in-India electric version of its Kwid hatchback, the people told Reuters. To qualify for incentives in India, Renault would have to build the car at its alliance plant in southern India and source components locally, the first person said. As a part of the India reboot, Renault also plans to invest in refurbishing and upgrading some of its major dealerships in big cities, the person said.

Such a plan met heavy reservations within Giorgia Meloni's new right-wing administration, which decided to put CDP's bid on hold on Monday night, two government officials told Reuters. TIM, which has been under pressure for years due to a hyper-competitive domestic market, had no immediate comment. Economy Minister Giancarlo Giorgetti this month said Butti's plans required extensive discussions within the government, which had "several options" to secure control of TIM's network. Butti, who has openly criticised CDP's plans for TIM, has called on the Treasury-owned lender to take over TIM in full to then sell its service operations, including its Brazil-listed unit. TIM is expected to hold a board meeting on Wednesday to discuss the appointment of a director to replace Renault boss Luca de Meo.

☆ Vivendi representative Frank Cadoret resigns from Telecom Italia's board
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] Telecom Italia (TIM) logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/IllustrationROME, Nov 16 (Reuters) - Telecom Italia (TLIT.MI) (TIM) said on Wednesday that Frank Cadoret, one of two board members representing top investor Vivendi (VIV.PA), resigned from the post. Vivendi has clashed with Rossi, a former Bank of Italy official, over corporate governance issues on a number of occasions. The other Vivendi representative on TIM's board is the French media conglomerate's chief executive, Arnaud de Puyfontaine. Reporting by Alvise Armellini and Elvira Pollina, editing by Gianluca Semeraro and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Separation anxiety over Renault's five-way split
▼ + stars: | 2022-11-10 | by ( Gilles Guillaume | ) www.reuters.com time to read: +5 min

The main plank of the strategy is the separation of its combustion engine business from its electric vehicle (EV) operation. ELECTRIC PUSHAn early mover in electric cars, Renault has fallen behind newer, more agile rivals such as Tesla (TSLA.O). By teaming up its new businesses with the best available partners, "Renault hopes to win medals in those different sports instead of remaining at an average level in all five", he said. "This contrasts with what some other automakers have said, notably Volkswagen (VOWG_p.DE), Mercedes (MBGn.DE), and Stellantis (STLA.MI), who do not believe in (electric vehicle) business separations," he said. Reporting by Gilles Guillaume Writing by Nick Carey Editing by Silvia Aloisi and David GoodmanOur Standards: The Thomson Reuters Trust Principles.

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