Tag: Renault

Ousted Nissan boss Ghosn says will fight ‘meritless’ charges -statement

March 6 (Reuters) – Carlos Ghosn, the ousted chairman of Nissan Motor, said he was innocent and committed to fighting the “meritless and unsubstantiated” accusations against him, according to a statement ahead of his expected release from prison on bail. “I am extremely grateful for my family and friends who have stood by me throughout… Continue reading Ousted Nissan boss Ghosn says will fight ‘meritless’ charges -statement

Toyota and BMW warn on no-deal Brexit

Media playback is unsupported on your device Car giants Toyota and BMW have both warned a no-deal Brexit threatens the production of their cars in the UK. BMW told Sky News it could consider moving production of its Mini from the UK in a no-deal scenario. Separately, the head of Toyota’s European operations said a… Continue reading Toyota and BMW warn on no-deal Brexit

Ex-Nissan boss Ghosn granted bail in Japan

The former boss of Nissan, Carlos Ghosn, has been granted bail by a Tokyo court in a surprise decision. The court set bail at one billion yen (£6.8m; $8.9m) and Japanese media reports said he could be released as early as Tuesday. Mr Ghosn has been charged with financial misconduct but has consistently denied any… Continue reading Ex-Nissan boss Ghosn granted bail in Japan

Renault dismisses question marks over its alliance with Nissan and Mitsubishi

Ensuring permanence of auto alliance a priority, Renault CEO says
1 Hour Ago | 04:24

Renault's new CEO told CNBC that there is no “question mark” hanging over his firm's alliance with Japanese firms Nissan and Mitsubishi.

The partnership was plunged into crisis in November when former Nissan chairman and Renault CEO Carlos Ghosn was arrested in Japan following allegations of financial misconduct. It transpired that Nissan executives had been helping Japanese prosecutors with evidence.

On Tuesday, and after more than three months of detention, Ghosn was granted bail. A Tokyo court approved his release, having denied two previous requests, on the condition he agrees to video surveillance.

Now his replacement at Renault, Thierry Bollore, has told CNBC that over the last month the company had spent a large amount of time working with its Japanese partners to re-establish trust.

Speaking at the 89th Geneva International Motor Show on Tuesday, Bollore said the future of the auto alliance was not under threat.

“It is not at all a question mark. We need more alliance, we need better alliance. This is independent of events,” he told CNBC's Annette Weisbach, before claiming that all three firms were now looking to deepen their cooperation with each other.

“We need to permanently make the alliance progress with our three companies, and make sure we can deliver better together,” Bollore said.

Renault chairman 'extremely confident' in alliance's future
1 Hour Ago | 00:47

Also on Tuesday, Renault's new chairman, Jean-Dominique Senard, said he was also “extremely confident” in the future of the alliance.

“We are working hard to make sure the future of this alliance is brilliant. I'm totally convinced it will happen and we will find ways to make sure it is understood by everybody,” Senard added.

Renault outlook

In mid-February Renault posted its first set of results since the arrest of Ghosn. The French carmaker reported a 35 percent slump in net profit for 2018 to 3.45 billion euros ($3.9 billion).

On Tuesday, Bollore claimed the results were good in the face of a “very shaky year.” The chief executive said he expected the first six months of 2019 to reap “moderate growth” but that a raft of new product launches after the summer would improve sales.

Bollore admitted that the key China market had proved sluggish but said the company was continuing to learn.

Shares of Renault and Nissan have dipped by around 7 percent since Ghosn's arrest.

Carlos Ghosn, former Nissan chairman, granted bail in Japan

Carlos Ghosn Tokyo prosecutors expected to challenge decision to free businessman after charges he underreported his income Carlos Ghosn has repeatedly denied claims he underreported his income by tens of millions of dollars and transferred personal investment losses to the car company. Photograph: Benoît Tessier/Reuters Carlos Ghosn has been granted bail by a court in… Continue reading Carlos Ghosn, former Nissan chairman, granted bail in Japan

4 Mar 2019 GKN trials world-first battery electric vehicle with two-speed …

GTD19’ technology demonstrator illustrates potential for industry-leading efficiency, acceleration and range Order book for GKN electrified drivelines up 40% in 2018, to £3 billion ICE all-wheel-drive SUV reengineered as pure electric vehicle with coaxial eAxle based on GKN’s award-winning Twinster technology Development of GTD19 showcases GKN’s vehicle integration expertise GKN Automotive has today unveiled the… Continue reading 4 Mar 2019 GKN trials world-first battery electric vehicle with two-speed …

Mercedes-Benz EQ Silver Arrow Formula E electric racing car debuts in special livery

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Mercedes-Benz EQ Silver Arrow 01 concept
Mercedes-Benz is formally entering Formula E electric-car racing for the upcoming 2019-2020 season, and for the upcoming Geneva Motor Show it has revealed what it terms a “teaser” version of the racing car, called the EQ Silver Arrow 01.

Mercedes says that it “provides an idea of the team’s Formula E campaign to come.” The vehicle won’t be shown in its final livery, according to a release “at a later stage ahead of the season opener.”

DON’T MISS: 11 things you need to know about Formula E electric-car racing

“The blue touches and the subtle contrast between matte and gloss in conjunction with the star motif at the rear of the vehicle convey the concept of progressive luxury in electric motorsport,” said chief design officer Gordon Wagener of this version, in a company press release, with notes that the horizontal blue line symbolizes Mercedes’ electrification-focused EQ brand and is in contrast to the green hue of its Formula 1 car, the Mercedes-AMG F1 W10 EQ Power+.

“Formula E is going to be a completely new playing field for us,” said Toto Wolff, the head of Mercedes-Benz Motorsport. “But we are looking forward to the challenge of demonstrating the performance of our intelligent battery-electric drives in motorsport and of giving a positive boost to the EQ brand.”

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Mercedes-Benz EQ Silver Arrow 01 concept

The upcoming 2019-2020 racing season will be the first one in which Mercedes will compete in both Formula 1 and Formula E.

Season 6 of Formula E, slated to start in December 2019, will also include Porsche for the first time. With the current Season 5, BMW entered as a manufacturer team, and Nissan entered Formula E, replacing its Renault affiliate.

Mercedes lists the top speed of its car as 174 mph, with an acceleration time of 0-60 mph in about 2.7 seconds.

READ MORE: New York race closes out Formula E season and multi-car strategy

The current season is the first with an all-new Gen2 racing car, with “halo” cockpit protection for the driver, higher power and top speeds, and no full-car swaps mid-race. At 52-kwh and 849 pounds, the battery that needs to power all Formula E cars for the entire 45-minute races is a product of McLaren Applied Technologies and Lucid Motors (Atieva), with Sony cells.

Three of 13 Season 5 races have already been held, with the next one on March 10 in Hong Kong and the season ending with two Brooklyn street circuit races on July 13-14, 2019.