|Bid||0.00 x 4000|
|Ask||0.00 x 4000|
|Day's Range||13.73 - 13.86|
|52 Week Range||12.58 - 20.43|
|Beta (3Y Monthly)||1.81|
|PE Ratio (TTM)||5.96|
|Forward Dividend & Yield||0.73 (5.29%)|
|1y Target Est||N/A|
This morning, we saw a new, extremely brief teaser for a new version of the Dodge Charger SRT. We don't know exactly what the car is, but rumors and spy shots suggest that the big sedan could be getting the same treatment as the multiple Dodge Challenger widebody models.
Last week, the Italian-American automaker Fiat Chrysler (FCAU) surged by 4.7%, much higher than its 0.5% rise in the previous week. As of June 24, Fiat Chrysler has gone up by 7.2% year-to-date, underperforming its direct peers such as General Motors (GM) and Ford (F). GM and Ford have gone up by 10.5% and 30.1% in 2019 so far.
Following the positive trend in the broader market, auto stocks rallied last week. In the third week of June, General Motors (GM), Fiat Chrysler Automobiles (FCAU), Tesla (TSLA), and Ferrari (RACE) surged 3.5%, 4.7%, 3.2%, and 6.1%, respectively. Meanwhile, Ford Motor Company (F), Toyota (TM), and Honda (HMC) rose 0.1%, 0.4%, and 2.0%, respectively.
The top model in the Cars.com annual American-Made Index is a longtime U.S. make that’s part of an international ownership team.
(Bloomberg) -- Nissan Motor Co. pledged to put more focus on mending its troubled two-decade alliance with Renault SA as the Japanese carmaker’s boisterous shareholders voted to give the French partner more say over its future.At Nissan’s rowdy annual meeting in Yokohama, bickering shareholders approved a governance structure designed to boost oversight and prevent the concentration of corporate power in one individual, seeking to address the lapses that led to the arrest of former chairman Carlos Ghosn. Renault, which owns 43% of Nissan, got a bigger representation in key board committees.Chief Executive Officer Hiroto Saikawa, who got his position reaffirmed though he hinted at a potential exit in the future, emphasized the Renault alliance’s value and signaled that Nissan will speed up talks to strengthen it. That’s a change of stance from the past few months, when Nissan insisted that getting its own internal business in order was a top priority.“Postponing the talks could result in speculation and undermine the alliance’s day-to-day operations and affect Nissan’s recovery efforts,” Saikawa said. “It is critical to create opportunities with Renault to discuss our future relationship while we continue to improve our performance.”The annual meeting was marked by shareholders shouting at executives and at each other, as has become the norm for Nissan in recent years. When an ex-Nissan employee used his turn to speak to praise Ghosn for saving Nissan from bankruptcy, another shareholder told him to shut up.Some also criticized Renault and its chairman, Jean-Dominique Senard, who was present at the meeting, accusing him of trying to assert control over Nissan.Ghosn’s arrest late last year fractured the carmakers’ partnership, and Nissan’s failure to support a proposed merger between Renault and Fiat Chrysler Automobiles NV this month put more strain on the pact. Saikawa reiterated that he isn’t in favor of a merger between Nissan and Renault, and said an “imbalance” in the companies’ cross-shareholdings needs to be addressed -- Nissan only owns 15% of its French partner.“Having an alliance definitely increases our competitiveness, and the challenge is how to define the alliance,” said Saikawa, who was criticized by some shareholders for his handling of Nissan since Ghosn’s arrest. Some in the crowd called for his resignation.Senard appeared frustrated as he tried to convince the audience he was devoted to rebuilding trust. He said he did everything he could to restore the relationships in an alliance that he found in much worse condition than he anticipated when he took over earlier this year.Shareholders approved creating three board committees: nomination, audit and compensation. Renault CEO Thierry Bollore will be on the audit committee and Senard on the nomination committee -- key positions at the heart of decision-making. The nomination committee will be overseen by Masakazu Toyoda, the lead, independent outside director.A majority of the new board isn’t affiliated with Nissan, with new directors including the chairman of Nihon Michelin Tire Co. and the former head of Sony Interactive Entertainment. Yasushi Kimura, an adviser to oil company JXTG Holdings Inc., will be chairman and Senard will be vice chairman. Outgoing directors include Nissan veteran Toshiyuki Shiga, who once was Ghosn’s right-hand man.With fewer Nissan insiders, the new board potentially could take a more benign view on any attempt by Renault to resume deal talks with Fiat. The European carmakers’ talks ended in early June after a last-minute intervention by the French government, which suggested the deal was being rushed and that more time was needed to gain Nissan’s approval.Senard told Nissan shareholders that a deal between Fiat and Renault also would have benefited the Japanese company. There was “no aggression against Nissan,” he said.Saikawa, Ghosn’s protege-turned-accuser, held on to his job thanks to Renault’s support. He faced shareholder criticism for not reacting to Ghosn’s alleged wrongdoing early on, with some saying he should step down.The 65-year-old CEO said he isn’t in a position to say when a successor will be named for him, but he wants the nomination committee to speed up a search for one.\--With assistance from Kae Inoue.To contact the reporters on this story: Ma Jie in Tokyo at firstname.lastname@example.org;Grace Huang in Tokyo at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Ville Heiskanen, Ken McCallumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Nissan Motor Co. shareholders will vote in a new board and director committees Tuesday, decisions that will shape the company’s troubled relationship with Renault SA and impact whether the French company revives its deal with Fiat Chrysler Automobiles NV.The Japanese carmaker’s proposed new governance structure is designed to boost oversight and prevent the concentration of corporate power in one individual, seeking to address the lapses that led to the arrest of former chairman Carlos Ghosn for financial crimes while at the company.Ghosn’s downfall triggered tumult at Nissan. The company reported its lowest profit in a decade last month and has lost a quarter of its market value. Ties with its ally of more than two decades have been strained after Nissan kept the investigation into Ghosn from Renault until his arrest. The alliance has been further tested by Nissan’s reluctance to support a merger between the French company and Fiat.Here are the key points to watch out for at Tuesday’s annual shareholders’ meeting:Committee Musical ChairsThe central task for the meeting, being held at a hotel in Yokohama, is to approve the creation of three board committees: nomination, audit and compensation. The structure is based on recommendations made in March by a governance panel empowered by Nissan to put forth board changes.The proposal was thrown into doubt this month, when Renault Chairman Jean-Dominique Senard threatened to withhold support for the reforms unless Renault secured more representation within the committees. Renault’s 43% stake in Nissan gives it a lot of say because decisions such as board appointments require a simple majority to pass.Nissan acquiesced and agreed to give Renault more seats, offering Renault Chief Executive Officer Thierry Bollore a place on the audit committee and Senard a position on the nomination committee -- key positions at the heart of decision making. The nomination committee will be chaired by Masakazu Toyoda, the lead independent outside director.New Faces on the BoardShareholders will also decide on the new board lineup. In line with the panel’s recommendation, a majority of the nominees are not affiliated with Nissan, including the former head of Sony Interactive Entertainment and the chairman of Nihon Michelin Tire Co.Yasushi Kimura, an adviser to oil company JXTG Holdings Inc., will chair the board and Senard will become the vice-chair. Outgoing directors include Nissan veteran Toshiyuki Shiga, who was once Ghosn’s right-hand man.A board with fewer Nissan insiders could potentially take a more benign view on any attempt by Renault to resume deal talks with Fiat. The European carmakers’ talks ended in early June after a last-minute intervention by the French government, which suggested the deal was being rushed and that more time was needed to gain Nissan’s approval.CEO Saikawa’s FutureNissan CEO Hiroto Saikawa, Ghosn’s protege-turned-accuser, will face criticism and scrutiny by the board and shareholders, yet he’s likely to hold on to his job thanks to Renault’s support. Under an alliance agreement revised in 2015, Renault is obliged to stand by Nissan in management decisions, including board nominations.Saikawa has had to face questions about why he didn’t spot Ghosn’s alleged wrongdoing early on, and in April stockholders asked why he wasn’t stepping down to take responsibility for Nissan’s poor governance. On Monday, Saikawa was due to be questioned by the board about allegations by a former senior executive that he broke company rules to pay for a house in Tokyo.The Nissan governance panel decided to recommend that Saikawa stay on mainly because the company needs a certain level of management consistency, according to Keiko Ihara, an external Nissan board director and a member of the panel. Saikawa has also agreed to cut his compensation by half to take responsibility for the Ghosn scandal.(Corrects the amount of votes needed for decisions in sixth paragraph.)To contact the reporter on this story: Ma Jie in Tokyo at email@example.comTo contact the editors responsible for this story: Young-Sam Cho at firstname.lastname@example.org, Reed Stevenson, Ville HeiskanenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The lot of 25 beautiful collector items includes a Lamborghini Veneno Roadster, a Koenigsegg One:1, an Aston Martin One-77, a Ferrari LaFerrari, a McLaren P1, and a Bugatti Veyron. The collection, which was seized from a corrupt politician from Equatorial Guinea, is valued at roughly $13 million. The collection was previously owned by the vice president of Equatorial Guinea, Teodoro Obiang, but the cars were seized when he was placed under investigation for money laundering and unfair management of public interests.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
This week I drove a modern Jeep in the purest form — the two-door 2019 Wrangler Rubicon. It's been some time since I drove a two-door Wrangler, and I had forgotten just how much fun they are.I always say the four-door Sahara is how I'd roll if I were serious about buying a Wrangler, but after a cathartic morning drive with the soft top rolled back, I'd strongly consider the two-door variant.
(Bloomberg) -- Workers at a major auto parts plant in Michigan are poised to return to work after a brief strike Friday, alleviating the threat of a supply disruption for carmakers Ford Motor Co., Tesla Inc. and Fiat Chrysler Automobiles NV.The United Auto Workers called the strike early Friday morning after failing to reach a tentative contract agreement with Faurecia SA. A tentative deal has been reached, Misty Matthews, a Faurecia spokeswoman, said by phone.Faurecia’s plant in Saline, about 40 miles west of Detroit, employs 1,900 UAW members. The factory makes instrument panels, center consoles and other parts and supplies them to Ford, Tesla and Fiat Chrysler.To contact the reporter on this story: Kyle Lahucik in Southfield at email@example.comTo contact the editors responsible for this story: Craig Trudell at firstname.lastname@example.org, David WelchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- The Japanese government played a role in the breakdown of merger talks between Renault SA and Fiat Chrysler Automobiles NV earlier this month, weighing in with concerns the combination could harm Nissan Motor Co., people familiar with the matter said.Japan signaled its misgivings over the deal to the French government, said the people, asking not to be identified speaking about the negotiations. France -- Renault’s most powerful shareholder -- then sought a pause in the talks for more time to win Nissan’s support, provoking Fiat to withdraw its offer.Details on Japan’s role, only emerging now, highlight the obstacles to a quick resumption in merger negotiations between Renault and its Italo-American rival. They also show that France and Japan can find common ground to protect their carmakers and the two-decade Renault-Nissan alliance.A spokesman for Japan’s ministry of economy, trade and industry declined to comment, as did a spokesman for the French finance ministry. Representatives for Renault and Nissan also declined to comment.Renault and the French state are now focusing on repairing the relationship with Nissan, under strain since the November arrest of Carlos Ghosn, who oversaw both companies and their partnership. Tensions escalated further when Renault’s new chairman, Jean-Dominique Senard, pressed Nissan for a merger it didn’t want, then pursued the Fiat deal without telling the Japanese company.Relations touched a new low earlier this month when Senard threatened to block Nissan’s new governance plan at its annual shareholders meeting. An accord Thursday put an end to the spat over boardroom powers, easing tensions for now.Heading into the pivotal June 5 Renault board meeting, Senard and Fiat Chairman John Elkann were pushing for quick approval of the French-Italian tie-up.Nissan had been cool to the Fiat-Renault deal since it first learned of the talks, people familiar with the matter said. But rather than come out against it openly, the Japanese company’s representatives on Renault’s board choose to signal their opposition with an abstention, the people said. Dialogue with Japanese officials helped their French counterparts understand Nissan’s position, prompting France to put the brakes on the deal.While CEO Hiroto Saikawa had pledged to protect Nissan’s interests, the company didn’t ask METI to intervene with the French government, according to a person familiar with the matter. French Finance Minister Bruno Le Maire has said that Nissan’s plan to abstain on the Renault-Fiat vote drove his decision to seek a delay.The last-minute move by Le Maire to pause the Renault-Fiat talks won him praise from some Nissan insiders. The Fiat proposal was seen by some at Nissan as a way of getting control of the company and its key technologies and to benefit from its presence in the U.S. and China -- all on the cheap. Renault owns 43% of Nissan and their operations are so intertwined that the deal would have had deep implications for the Japanese partner, the insiders said.\--With assistance from Ma Jie and Emi Nobuhiro.To contact the reporters on this story: Ania Nussbaum in Paris at email@example.com;Kae Inoue in Tokyo at firstname.lastname@example.org;Geraldine Amiel in Paris at email@example.comTo contact the editors responsible for this story: Tara Patel at firstname.lastname@example.org, ;Anthony Palazzo at email@example.com, Frank ConnellyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- The windshields of large cars parked in my Berlin neighborhood were plastered this week with angry messages on lurid orange stickers. The owners were told that: “Driving an SUV causes serious climate damage,” “SUVs harm your unborn child,” and “Driving an SUV causes impotence.” That last one may have been a joke.Sports utility vehicles have long been hated by the more civic-minded among us. They tend to consume more fuel, spew out more pollution and take up more parking space. It’s been suggested that their size and weight are also partly to blame for the rising number of pedestrian road deaths.The car industry has carried on regardless, producing millions of these gas-guzzlers to hugely profitable effect. Just look at Fiat Chrysler Automobiles NV and its lucrative love affair with Jeep and RAM trucks. But things might start to change and there’s one big reason why: Shame.With most people now recognizing the threat of an overheating planet, it’s hard to pretend that your huge car isn’t part of the problem. And it’s this embarrassment factor that Berlin’s environmental activists were targeting so effectively with their orange stickers. That should deeply trouble many in the car industry who have made all-in bets on SUVs and trucks. Other sectors whose consumer products or services are visible polluters won’t escape either.Shame has long been recognized as an effective tool for changing antisocial behavior. Back when we were hunter-gatherers, it helped tribes preserve social cohesion; being ostracized was potentially fatal and thus selfishness was best avoided.Shame is what makes the Fridays for Future movement, which encourages school children to go on strike about climate change, so effective. It’s embarrassing that it takes our kids to show us we’re screwing up the planet, and it’s also a reminder that they’ll suffer more from climactic catastrophe. The same can be said for Britain’s traffic-stopping Extinction Rebellion protests, which were met by a surprisingly sympathetic response from the public. And social stigma is certainly what’s driving a burgeoning boycott of passenger flights in northern Europe. Sweden even has a word for it: “Flygskam” (flying shame). Boasting on social media about that trip to the Maldives has become deeply uncool, just like turning up at the school gates in a Land Rover.Embarrassment is already a powerful force in politics and the corporate world. The publication of gender pay figures or CEO-to-worker salary ratios is all about guilt-tripping companies into more equitable practices. California names and shames the most delinquent tax payers, which is a decent incentive to pay up.Like the car industry, the aerospace world is acutely aware of the potential business damage from this phenomenon. At this week’s Paris Air Show, executives were on the defensive. The chief technology officers of seven leading manufacturers made a rare joint statement emphasizing their commitment to decarbonizing flight. It’s a pretty forlorn task. They know that twin-aisle commercial jets won’t run only on electric power for decades – the thrust required is simply too great.An aviation industry plan to cap emissions at 2020 levels has been criticized for its reliance on questionable carbon offset projects. Some analysts think that a Nordic-style public backlash that spurs governments into taxing the industry properly is a serious threat to its growth. “We can easily imagine how environmental awareness might cap consumer demand for second or third holidays by air,” says HBSC’s Andrew Lobbenberg.Of course, an embarrassed individual’s decision to fly less and drive a smaller car won’t solve the problem by itself. Governments have to take decisive and united action to decarbonize the global economy by tackling heavy industry and power production. The success of the Greens in the recent European elections shows that’s what many people want.Unfortunately the European Union failed this week to agree on a net-zero carbon emissions target for 2050 because of opposition from coal-dependent central European states. Even Germany, Europe’s wealthiest economy, doesn’t intend to phase out coal until 2038. You can see then why many environmental protesters have decided to take their message directly to individual consumers. The shaming of car buyers and airline passengers still doesn’t capture some of the worst decisions we make as consumers of energy, though. A study commissioned by the British government on how the country could get get to net-zero emissions noted there was still no serious plan for decarbonizing U.K. heating systems. Yet nobody goes around putting stickers on homes with gas boilers. Still, most of us realize that the consumption decisions we make are contributing to the climate crisis. Our kids will grow up on an increasingly inhospitable planet and many of us long to be rid of that legacy.That’s why I think there’s reason for optimism around the activities of one of the worst pollution culprits in recent years: Volkswagen AG. After the disgrace of its diesel emissions cheating scandal, the world’s biggest carmaker has found the electric faith and expects 40 percent of its sold vehicles will be battery-powered in 2030. It still sells too many combustion engine SUVs but it wears that shame on its sleeve, admitting that its cars and trucks produce as much as 2 percent of global carbon emissions. VW’s latest TV ad features an employee despairing about “dieselgate.” With a Simon and Garfunkel track to get us in the forgiving mood, the designer sketches the outline of an electric camper van – a throwback to the old hippie bus, just without the pollution. My guess is that Berlin activists won’t be putting stickers on one of those in future. They’ll be driving one.To contact the author of this story: Chris Bryant at firstname.lastname@example.orgTo contact the editor responsible for this story: James Boxell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- Renault SA welcomed a decision by partner Nissan Motor Co. granting the French carmaker a seat on its board committees, signaling an end to a dispute that has poisoned the world’s largest auto alliance.The accord could help mend relations, which plumbed to new depths after Renault Chairman Jean-Dominique Senard threatened to abstain from voting on a governance plan at Nissan’s annual meeting next week. His demand for more committee representation came shortly after Nissan failed to support a merger between Renault and Fiat Chrysler Automobiles NV.The Japanese company will give Renault CEO Thierry Bollore a seat on the board’s audit committee and Senard a position on the nomination committee — key positions at the heart of decision making, Nissan said in a statement Friday. Renault now expects to support Nissan’s resolutions during the investor meeting on June 25, people familiar with the matter said, asking not to be identified discussing the negotiations.“The agreement reached on Renault’s presence in Nissan’s new governance confirms the spirit of dialogue and mutual respect that exists within the alliance,” Renault said in a statement.Yasushi Kimura, an adviser to oil company JXTG Holdings Inc. will chair the board and Senard will become the vice-chair. The nomination committee will be chaired by Masakazu Toyoda, the lead independent outside director.The concessions from Nissan to let Renault’s CEO on the audit committee came with strings attached. The Japanese automaker is placing restrictions on Bollore’s role in areas where the two companies might have a conflict of interest, people familiar with the matter said.No ChoiceWhile tensions between the partners have never been higher, both sides have indicated they have little choice but to patch up their two-decade alliance. The partnership has proven one of the most successful among automakers, generating 5.7 billion euros ($6.4 billion) in savings from manufacturing, purchasing and engineering in the 2017 financial year, the companies estimate.Yet the alliance has grown increasingly fractious since the November arrest of former leader Carlos Ghosn on accusations of financial misconduct, which he has denied. Nissan’s governance overhaul was largely geared toward improving oversight following the scandal.In the aftermath, a joint audit by the two companies also found transparency breaches and a lack of adequate financial controls at RNBV, the Amsterdam-based company that managed the alliance. Since then, RNBV has been shrunk, its executives re-assigned to their respective companies and common services, such as communications and legal, appear to be dormant.Waymo DealStill, common projects continue to emerge. The three-way alliance, which includes smaller member Mitsubishi Motors Corp., unveiled a partnership on Thursday to explore driverless services in France and Japan with Waymo LLC, the autonomous-vehicle unit of Google parent Alphabet Inc.The lopsided shareholding arrangement between Renault and Nissan has been a long-running source of friction: Renault’s 43% stake in Nissan comes with voting rights, while Nissan’s 15% holding in Renault does not. The role of France, Renault’s most powerful shareholder, has also irked Nissan.Following the abrupt collapse of the merger discussions with Fiat, both Renault and the French state pledged to repair the alliance with Nissan before contemplating a resumption of talks with the Italo-American carmaker. France in particular views securing Nissan’s explicit backing as crucial for the success of a Fiat-Renault combination. Nissan representatives on Renault’s board abstained in an informal vote on the deal last week, leading France to seek a delay.Despite the finger-pointing that followed the failed talks, Renault, Fiat and France left the door ajar for a possible deal as they brace for the costly changes sweeping the industry, such as developing electric and autonomous vehicles.(Updates with company announcement in third graph.)To contact the reporters on this story: Ania Nussbaum in Paris at firstname.lastname@example.org;Ma Jie in Tokyo at email@example.com;Kae Inoue in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Anthony Palazzo at email@example.com, ;Kenneth Wong at firstname.lastname@example.org, Reed StevensonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Alphabet unit Waymo will study self-driving car services to move people and goods with Renault and Nissan.
As we peruse the listings on sites like Autotrader and Cars.com, another thing becomes obviously clear: Dealers are marking Gladiators up substantially. Take a look yourself and you'll find Gladiators of all trim levels listed for $10,000-$20,000 more than their MSRP, as pointed out by Car and Driver. Others are just normal Gladiators that dealers are looking to make a healthy profit on.
We know that hedge funds generate strong, risk-adjusted returns over the long run, therefore imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, smart money investors have to conduct complex analyses, spend many resources and use tools that are not always […]
In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor Alex Kierstein and Senior Editor, Green, John Snyder. This week, they talk about driving the BMW 8 Series Coupe, Jeep Wrangler Rubicon and Toyota Corolla Hatchback.
DETROIT/PARIS (Reuters) - French automaker Renault SA, its Japanese partner Nissan Motor Co and tech giant Alphabet Inc's Waymo are exploring a partnership to develop and use self-driving vehicles to transport people and goods in France and Japan, the companies said on Thursday. In Japan, a potential competitor to a Renault-Nissan-Waymo venture would be Monet Technologies, a self-driving project involving Toyota Motor Corp and Honda Motor Co and backed by SoftBank Group Corp. SoftBank and Honda also have invested in General Motors Co's Cruise self-driving car unit.
(Bloomberg) -- Waymo LLC agreed to explore driverless services with Renault SA, Nissan Motor Co. and Mitsubishi Motors Corp., pairing a leader in self-driving technology with the world’s largest automotive alliance.The three carmakers and Alphabet Inc.’s autonomous-vehicle unit will study market opportunities and research legal and safety issues related to driverless transportation services in France and Japan, the companies said in a statement Thursday. The deal doesn’t extend to cooperation producing robo-vehicles.“We’re convinced that with this added expertise, we’ll be able to position ourselves for autonomous services that are viable for customers,” Hadi Zablit, senior vice president for business development at the Renault-Nissan-Mitsubishi alliance, told reporters in Paris. When it comes to implementation, the three automakers won’t necessarily offer services in common with Waymo, he said.The French-Japanese alliance produced more than 10 million vehicles last year — on a par with the biggest carmakers: Volkswagen AG and Toyota Motor Corp. Unlike Waymo’s previously announced deals with Fiat Chrysler Automobiles NV and Tata Motors Ltd.’s Jaguar Land Rover, the partnership with Renault-Nissan-Mitsubishi doesn’t include supplying any cars.Waymo’s parent company, Alphabet, struck a separate deal with the three-way partnership last September, giving its Google Android operating system access to their vehicle dashboards starting in 2021.The new agreement marks a first step toward developing long-term, profitable driverless-vehicle services for passengers and deliveries, the companies said. While the analysis will take place first in France and Japan, they said it may expand to other markets — excluding China — in the future.Zablit sees deployment of the new mobility services in less than 10 years.For Renault and Nissan, working with Waymo brings expertise as the race to develop autonomous vehicles heats up. It also shows the French and Japanese manufacturers continue to collaborate on key strategic matters, even after their two-decade partnership was shaken by the arrest in November of former leader Carlos Ghosn in Japan over alleged financial improprieties.Tensions escalated after Renault pursued a combination with Fiat without initially telling its Japanese partners. Those merger talks have since ended.To contact the reporter on this story: Ania Nussbaum in Paris at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Frank Connelly, Chester DawsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cutting its stake in alliance partner Nissan is not on Renault's agenda, the French carmaker's chief executive Thierry Bollore said on Wednesday after a global vehicle launch in New Delhi. Renault and Fiat Chrysler (FCA) are looking for ways to resuscitate a failed merger plan and secure Nissan's approval, Reuters reported this month. As part of the fallout of the collapse of talks, Nissan is poised to urge Renault to significantly cut its 43.4% stake in the Japanese carmaker, two people told Reuters.
The Paris Périphérique, or ring-road, would be the ultimate challenge for driverless cars. Could computers ever master its stressful, congested conditions? On Thursday, Renault and Nissan announced a deal ...