The Renault-Nissan Alliance is on the verge of a $2.2 billion deal with Mitsubishi to acquire 34 per cent of the Japanese company in a move which could have massive impacts on all three automakers.
During the Paris Auto Show, Renault-Nissan chief executive Carlos Ghosn told Automotive News that he expects authorities to approve the multi-billion acquisition...
...“The day we announce the deal, we’re going to tell you exactly what we’re going to do together. And it’s massive. It’s massive between Mitsubishi and Nissan. And also, it may be very significant between Renault and Mitsubishi.”...
...he wants Mitsubishi to become part of the Renault-Nissan Alliance, meaning the three would be closely linked in management, vehicle development, r&d and purchasing...
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Funny we don't see Mitsubishi boasting about how bright the future is going to be. Ghosn has been desperate to force a partnership with another automaker for a while now, and caught Mitsubishi when they were at their weakest.
A modern take on one of the sexiest four-cylinder cars of the 1960s will officially debut before the end of the year, and there’s a chance it will find its way to these shores.
Alpine, a reborn subsidiary of Renault, is putting the final touches on the production version of its Vision concept, a practical sports car that harkens back to the glory days of the nearly forgotten brand...
...Alpine, bought by Renault in 1973 and declared defunct in 1995, spawned a classic in the early ’60s with its A110 coupe, a model the reborn brand means to emulate. A range of new Alpine models could follow, but Renault wants to play it safe. Reportedly, production of the new Alpine won’t top 5,000 units per year, and van der Sande claims the brand’s future depends on “the public reaction to the car.”
Renault motor sports chief Jerome Stoll has said in the past that Alpine will be a global brand, meaning its models aren’t confined by European borders. Will it come to the U.S.?...
...The Alpine reportedly sports a turbocharged 1.8-liter four-cylinder making about 300 horsepower, and carries a price of about $56,000. If U.S. buyers like what they see, they’d better hope European customers snap up every Alpine in a hurry, boosting the brand’s confidence and making an American entry more likely.
Carlos Ghosn is poised to become the CEO of three (3) different automakers at the same time...
...Nissan admitted earlier this year that it will buy a 34 percent stake in Mitsubishi for roughly $2.3 billion, after the latter was caught falsifying the mileage in several vehicles, including two made for Nissan. The deal is set to be closed by the end of this year.
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More @ AutomotiveNews-Europe
...after Nissan's purchase is finalized, Mitsubishi Group companies - trading house Mitsubishi Corp., Mitsubishi Heavy Industries Ltd. and Bank of Tokyo-Mitsubishi UFJ - will see their total shareholding diluted to around 17 percent...
...A Renault-Nissan-Mitsubishi alliance would create the world's fourth-largest automotive group.
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2b2 quote: "heck, juggling 2 automakers isn't even really juggling"
YOKOHAMA, Japan – Nissan Motor Co., Ltd., ("Nissan") today completed its acquisition of a 34 percent equity stake in Mitsubishi Motors ("MMC") and became its largest shareholder.
MMC will also become part of the global Alliance with Nissan and Renault. With the addition of MMC, the Alliance will be in the world's top three automotive groups by global volumes, with sales of 10 million units in fiscal year 2016...
...Ghosn concluded: "At a time of unprecedented change in the global auto industry, this strategy will build on our existing strengths and management capabilities to ensure increased competitiveness, better products for our customers and attractive returns for shareholders."
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PARIS -- Renault-Nissan boss Carlos Ghosn is recruiting a new operational second-in-command for the alliance, company sources told Reuters, in a move designed to prepare his own succession and advance the automakers' integration.
Under the plan, the currently separate chief competitive officer roles at Renault and Nissan would be fused into a single position at the 18-year-old alliance's helm, the sources said...
...For years, he sang the praises of a consensual, arm's length approach to cooperation - often invoking the long list of failed auto deals to explain why a merger was a bad idea. Renault and Nissan are currently targeting 5.5 billion euros ($6.2 billion) in joint savings, or 3.8 percent of combined sales.
Nissan "will not accept any move on capital structure as long as the French state remains a shareholder," Ghosn said as he presented Renault's 2016 earnings. "The day the French state decides to get out, everything is open, and I can tell you it won't take too much time."...
...Ghosn, who has run Nissan since 1999 and its French parent since 2005, is expected to continue presiding over the alliance from one or more chairman roles.
The other changes will see Renault and Nissan departments folded into alliance teams that were created in 2014 across four key areas, the same people said: manufacturing and supply chain; research and development; purchasing; and human resources.
"We'll see convergence efforts in the same fields," said one. "But they are stepping up a notch."
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fwiw,
Chief Performance Officer & Chief Competitive Officer are titles I've never heard/seen before...
:angel
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