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☆ VIEW Nissan, Renault agree to overhaul alliance, putting themselves on equal footing
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

"We understand Renault is able to ring fence its own technology within the alliance allowing the firm to collaborate also with other external partners beyond the Renault Nissan alliance. "Overall we welcome this step which will enhance the industrial collaboration within the alliance." JEFFERIES"A re-sized capital structure should help keep the Alliance viable, maintaining synergies and opening up strategic opportunities on both sides. Ultimately it means that a disorderly unwind of the alliance has been avoided which is a positive. "Over the short term, it's possible there may be selling (of Nissan shares) due to a worsening of supply and demand.

☆ Morning Bid: Breathe in
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom WestbrookMarkets are holding their breath for a week where central banks may start to take divergent paths. read moreWall Street's "fear index" - the VIX volatility index - on Friday fell below 18.0 for the first time in over a year, and perhaps a little under the radar, U.S. bond market volatility is now its lowest since last June. In Asia, markets slipped slightly, U.S. futures fell 0.4% and currency trade was eerily calm. The Nikkei newspaper reported Renault (RENA.PA) was to lower its share holding in Nissan (7201.T) to 15%, while the latter would invest in Renault's EV business. Things have not gone well for investors in other firms Hindenburg has targeted.

LONDON/HONG KONG, Jan 30 (Reuters Breakingviews) - Renault (RENA.PA) and Nissan (7201.T) have helped their 24-year alliance move forward after four years of stalemate. The deal marks the end of the French group’s domination of its Japanese partner, and addresses festering governance issues. The voting rights of the Nissan shares transferred to the trust will be "neutralised" for most decisions, the statement said. Renault shares fell 2.7% to 37.16 euros, as of 0837 GMT. Nissan shares were largely unchanged at 453.9 yen.

☆ 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.

☆ 5 things to know before the stock market opens Monday, January 30
▼ + stars: | 2023-01-30 | by ( Mike Calia | ) www.cnbc.com time to read: +4 min

This week it will run into some big tests, given the earnings schedule dominated by big tech names (more on that below) and the Federal Reserve's next moves. Here's a look at the earnings week ahead: Tuesday: General Motors McDonald's UPS Pfizer Spotify Snap AMDWednesday: Peloton MetaThursday: Apple Alphabet Amazon Ford Starbucks Qualcomm3. Renault aims to cut Nissan stakeRenault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. France's Renault and Japan's Nissan have agreed to restructure their agreement, which they struck in 1999. The overall health and size of its business allows it to mix things up and try new things.

☆ Renault slashes Nissan stake as the automakers overhaul their decades-long alliance
▼ + stars: | 2023-01-30 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

Renault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. (Photo by KENZO TRIBOUILLARD/AFP via Getty Images)Automobile giants Renault and Nissan on Monday agreed to restructure their decades-long alliance, in a move that will see Renault transfer 28.4% of Nissan shares into a French trust, the companies said. Renault would instruct the trustee to sell those shares if "commercially reasonable" and as part of a "coordinated and orderly process." The deal still pends board approvals, but would see Renault's shareholdings in Nissan reduced from around 43% to 15%, bringing its interest down to equal the Japanese company's current stake in Renault. Both companies would be able to "freely exercise the voting rights attached to their 15% direct shareholdings, with a 15% cap," the companies said.

☆ 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

☆ For automakers, the EV surge is everything everywhere all at once
▼ + stars: | 2023-01-26 | by ( Joseph White | ) www.reuters.com time to read: +4 min

He must accelerate the Japanese automaker's efforts to develop more competitive electric vehicles. But he will get little breathing room from Tesla or the Chinese EV manufacturers who are using their leads in EV technology and production costs to slash prices. THE SHIFTING GROUNDGlobal automakers are experienced with periods of feast and famine that come on roughly seven-to-ten year cycles. South Korea's Hyundai Motor Co (005380.KS) on Thursday reported better-than-expected results powered in part by strong sales of its new EV lineup. Hyundai forecast its EV sales would grow by 54% this year - a faster growth pace than Tesla has forecast.

☆ 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.

TOKYO, Dec 3 (Reuters) - Renault SA (RENA.PA) and Nissan Motor Co (7201.T) are set to forgo a Wednesday announcement of a deal to restructure their automotive alliance as they struggle to bridge their differences, three people familiar with the matter said. The French and Japanese carmakers remained apart on how to share intellectual property, the people, who declined to be named, said. Renault and Nissan declined to comment. The companies have been aiming to announce the new alliance structure as early as this month, Reuters reported this week. The question of how to share technology and intellectual property has proved to be a sticking point in the talks.

☆ Renault and Nissan forgo Wednesday announcement of alliance deal -media
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 3 (Reuters) - Renault SA (RENA.PA) and Nissan Motor Co (7201.T) are set to forgo a Wednesday announcement of a deal to restructure their automotive alliance as they struggle to bridge their differences, Japanese television network JNN reported. The French and Japanese carmakers remained apart on how to share intellectual property, JNN said late on Friday. There are no plans on when to make an announcement, the network said. The companies have been aiming to announce the new alliance structure as early as this month, Reuters reported this week. The question of how to share technology and intellectual property has proved to be a sticking point in the talks.

☆ Renault and Nissan forgo Dec. 7 announcement of new deal -JNN
▼ + stars: | 2022-12-03 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Dec 3 (Reuters) - Automakers Renault and Nissan are set to forgo an announcement on Dec. 7 of a new deal on their restructured alliance as they struggle to bridge their differences, Japanese TV network JNN reported on Friday. Renault is looking to Nissan to invest in its EV business, while Nissan is seeking the sale of part of Renault's 43% stake in Nissan to put the two partners on a more equal footing. The two parties decided to forgo an announcement on Dec. 7 as they had not reached an agreement as of Friday on how to share intellectual property, JNN said. Neither Renault nor Nissan immediately responded to a request for comment. Reuters previously reported that both parties had raised Dec. 7 as a possible date for an announcement of the new alliance structure.

☆ Renault-Airbus partnership to develop new generation of electric batteries
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] A model of Airbus A350-1000 jetliner is displayed at the China International Aviation and Aerospace Exhibition, or Airshow China, in Zhuhai, Guangdong province, China September 28, 2021. REUTERS/Aly Song/File PhotoPARIS, Nov 30 (Reuters) - European planemaker Airbus (AIR.PA) announced on Wednesday a partnership with French carmaker Renault (RENA.PA) to develop a new generation of electric batteries for cars and planes. Engineering teams from both companies will join forces to mature technologies related to energy storage, one of the main roadblocks for the development of long-range electric vehicles, Airbus said in a statement. "Aviation is an extremely demanding field in terms of both safety and energy consumption, and so is the car industry." The collaboration will focus on energy management optimisation and battery weight improvement while also studying the full life cycle of future batteries and assessing their carbon footprint.

☆ Renault chairman says confident of reaching deal with Nissan on future of alliance
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: 1 min

PARIS, Nov 29 (Reuters) - Renault's (RENA.PA) chairman on Tuesday told Reuters on Tuesday he was "confident" the French carmaker will reach an agreement with its Japanese partner Nissan (7201.T) on the future of their alliance. Ongoing talks between Renault and Nissan about their alliance could prompt the biggest reset in the tie-up since the 2018 arrest of longtime executive Carlos Ghosn, but it still has to be confirmed how they play out. Asked by Reuters whether any announcement on the matter will be made by mid-December, as suggested by some sources, Chairman Jean-Dominique Senard declined to comment. Reporting by Gilles Guillaume, writing by Tassilo Hummel, editing by Dominique VidalonOur Standards: The Thomson Reuters Trust Principles.

☆ Renault considers transferring over half of Nissan stake to match holdings - Nikkei
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +1 min

Nov 17 (Reuters) - Renault SA (RENA.PA) may transfer more than half of a stake it owns in Nissan Motor (7201.T) to a trust to match the Japanese carmaker's holdings in itself, the Nikkei newspaper reported on Thursday. Renault would transfer a 28% stake it owns in Nissan to and would be left with a 15% stake, equivalent to what Nissan owns in the French automaker, the Nikkei said. Renault, which currently owns 43% of Nissan, would give up voting rights tied to the transferred shares, the newspaper added. Spokespeople for Renault and Nissan were not immediately available to comment. People with knowledge of the talks have said that Renault's stake in Nissan could be reduced to 15%.

☆ 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.

☆ Nissan posts 45% rise in Q2 operating profit, hikes full-year outlook
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

A year earlier it earned 63.4 billion yen. The company raised its full-year operating profit forecast to 360 billion yen from 250 billion yen. That compares with a 335.13 billion yen average forecast by 21 analysts. Renault has a 43% stake in Nissan while the Japanese automaker has a 15% non-voting stake in Renault. Like other Japanese automakers, Nissan has been forced to make adjustment to its production plan due to persistent semiconductor supply disruptions.

☆ Autos giant Renault is betting the market for gasoline cars will continue to grow
▼ + stars: | 2022-11-09 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +3 min

The tie-up with Geely comes as Renault fleshes out plans to establish an EV spin-off called Ampere. According to Renault, France-based Ampere "will develop, manufacture, and sell full EV passenger cars." This was because, Pieton argued, it created "a world-leading supplier of ICE and hybrid powertrains with around 19,000 employees in the world, covering 130 countries." "Manufacturers need to be flexible in their powertrain offerings according to market needs — which differ across the world." The U.K., for example, wants to stop the sale of new diesel and gasoline cars and vans by 2030.

☆ Renault CFO: Nissan eyeing equity stake in electric and software unit Ampere
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: 1 min

PARIS, Nov 8 (Reuters) - Nissan (7201.T) is considering taking an equity stake in the Ampere unit, which could be listed on the stock market at the end of 2023, Renault (RENA.PA) chief financial officer Thierry Pieton told an investor presentation on Tuesday. The scale of Renault's planned overhaul- encompassing the gasoline engine business it has code-named "Horse" and the electric one code-named "Ampere" - speaks to the pressure automakers now feel from investors and regulators to quicken their move to electric vehicles, with Europe having effectively banned combustion engines from 2035. Reporting by Gilles Guillaume and Sudip Kar-Gupta, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Renault's joint venture with Geely will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said, adding they expect to reach a final agreement and launch the new company in 2023. Renault and Geely will each hold 50%, the companies said in a statement that did not detail other financial terms. Nissan has said it is considering an investment in the Ampere electric venture. Renault and Geely said they expect their new joint venture would supply internal combustion engines and hybrid powertrains to both Nissan and the junior partner in Renault's existing alliance, Mitsubishi Motors (7211.T). Renault and Geely have an existing joint venture in South Korea.

☆ Renault raises planned operating margin goal, but Nissan deal elusive
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +1 min

PARIS, Nov 8(Reuters) - French car maker Renault (RENA.PA) said it aimed for an 8% operating margin by 2025 thanks to a plan to split its combustion engine activities from its electric vehicle business, though such a plan still needs the go-ahead from its alliance partner Nissan (7201.T). Renault, ahead of a long-waited investor presentation on Tuesday, set the 8% goal for 2025, with this then raising to more than 10% in 2030, from 5% expected this year. On one hand, it is aiming to revamp its alliance with Nissan and convince the Japanese automaker to invest in a new electric car unit called Ampere. But details have been sketchy so far, and Renault's statement on Tuesday morning only said discussions with Nissan were ongoing. Reporting by Gilles Guillaume; Writing by Silvia Aloisi; Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.

☆ Renault, Geely clinch deal for internal-combustion joint venture
▼ + stars: | 2022-11-08 | by ( Norihiko Shirouzu | ) www.reuters.com time to read: +3 min

The joint venture will employ 19,000 people at 17 powertrain factories and three research and development hubs, the companies said, adding they expect to reach a final agreement and launch the new company in 2023. Renault and Geely will each hold 50%, the companies said in a statement that did not detail other financial terms. Renault and Geely said they expect their new joint venture would supply internal combustion engines and hybrid powertrains to Nissan and the junior partner in Renault's existing alliance, Mitsubishi Motors (7211.T). They said it would have the capacity to supply about 5 million engines and hybrid systems per year once operational. Renault and Geely Automobile also have an existing joint venture in South Korea.

☆ Renault and Google team up to develop a 'software defined' vehicle
▼ + stars: | 2022-11-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

The firm's idea of developing a passenger vehicle that uses hydrogen technology is not unique. French automaker Renault is partnering with Google to develop its cars like a tech company makes software. The pact, which expands on a previous collaboration between the two firms, will see Renault commit to making what it calls a "software defined" vehicle using technology from Google's cloud division. Using artificial intelligence, the two companies plan to create a "digital twin" of a new vehicle. The deal will help Renault develop new onboard and offboard applications, the companies said.

☆ Renault raises profitability targets in business overhaul
▼ + stars: | 2022-11-08 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

Renault's long-standing partner, Japan's Nissan (7201.T) is expected to take a stake in the EV venture, codenamed "Ampere", alongside outside investors, though Renault will keep a majority stake. Shares in Renault fell more than 4% as it gave no details on the state of play of talks with Nissan on the future of their partnership. Aside from the Ampere EV unit and the combustion engine venture, called "Horse", Renault will have an additional three businesses - the Alpine sports-car brand, financial services and new mobility and recycling activities. Using a sports metaphor, he compared the "old" Renault to a pentathlon athlete who would struggle to win gold medals in all five sport specialties. Reporting by Gilles Guillaume; Writing by Silvia Aloisi; Editing by Sudip Kar-Gupta and David EvansOur Standards: The Thomson Reuters Trust Principles.

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