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Boulogne-Billancourt, France | AFP | Thursday 2/16/2023 French automaker Renault said Thursday it boosted manufacturing profitability in 2022 but the sale of its operations in Russia pushed the company into a net loss. Renault expanded its operating profit margin to 5.6 percent of sales in 2022 and aims to increase it to at least 6.0 percent this year. Meanwhile sales rose by 11.4 percent to 46.4 billion euros ($49.7 billion). “2022 has more than kept […]
by Taimaz SZIRNIKS The boards of French automaker Renault and Japanese partner Nissan have approved a major overhaul of their rocky 24-year alliance following months of negotiations, the companies said on Monday. The carmakers said in a joint statement that they “rebalanced” their relationship, with Renault reducing its stake in the Japanese firm from 43.4 percent to 15 percent, the same size as Nissan’s share in its French counterpart. The agreement includes Nissan taking a […]
Tokyo, Japan | AFP | Monday 1/30/2023 French automaker Renault will slash its stake in Japanese partner Nissan as part of a deal rebalancing the rocky alliance between the two companies, the firms said Monday. The deal will also see Nissan take a stake in Renault’s new electric vehicle venture Ampere, though the size of the investment was not immediately announced. The agreement comes after months of painstaking negotiations, and repeated delays, as the two […]
by Taimaz SZIRNIKS Agence France-Presse PARIS, France (AFP) — Demand for electric vehicles soared in the EU last year as buyers took advantage of government subsidies for clean cars aimed at helping manufacturers weather the unprecedented hit from the Covid-19 pandemic, the European Automobile Manufacturers Association (ACEA) said Thursday. Some 538,772 fully electric autos were sold across the bloc, up 117 percent from 2019, while sales of plug-in hybrids more than tripled, to 507,059 from […]
PARIS, France (AFP) — Lawyers for Carlos Ghosn on Friday delayed a lawsuit seeking a hefty retirement payout from his former employer Renault, saying the French carmaker had not given them enough time to prepare arguments. The court in Boulogne-Billancourt, near Renault’s headquarters outside Paris, granted the request for more time, setting a new hearing date for April 17. “We received Renault’s arguments only on Monday, and having just four days to respond to 20 […]
by Richard CARTER Agence France Presse Private jets, bullet trains and boxes with holes for breathing: Carlos Ghosn’s escape from Japan, where he was awaiting trial, is worthy of a Hollywood plot. A millionaire many times over, used to hob-nobbing with the Davos set, Ghosn chafed at what he felt were the tight restrictions imposed as a condition of his bail ahead of an expectedly lengthy trial for financial misconduct. As 2019 drew to […]
Tony Gamal-Gabriel Agence France Presse BEIRUT, Lebanon–Fugitive auto tycoon Carlos Ghosn on Wednesday accused Nissan and Japanese prosecutors of plotting against him, vowing to prove his innocence at his first public appearance since fleeing the country. The former Renault-Nissan boss described the financial misconduct charges he faced in Japan as “baseless” as he addressed a large crowd of journalists in Beirut. “The collusion between Nissan and prosecutors is everywhere,” Ghosn said, claiming his arrest in […]
Beirut, Lebanon (AFP)–Fugitive auto tycoon Carlos Ghosn Wednesday claimed automaker Nissan lost $40 million daily and Renault 20 million euro per day since his arrest in 2018. “The market cap decrease of Nissan since my arrest is more than $10 billion. They lost more than $40 million a day during all this period,” he told reporters in Beirut, where he arrived after skipping bail in Japan. “Renault is not better, because the market cap of […]
French and Italian-US auto giants Renault and Fiat Chrysler are set to announce talks on an alliance, with a view to a potential merger, informed sources said on Sunday. Renault and FCA are likely to unveil the move “within hours, perhaps tomorrow (Monday), before the (Paris) bourse opens,” one of the sources told AFP on condition of anonymity, adding an eventual “merger” was on the agenda. The same source added a statement would cover “the […]
PARIS, France (AFP) — The family of former industrial tycoon Carlos Ghosn, currently held in Japan on charges of financial misconduct, is to appeal to the United Nations in a bid to have him released, one of his lawyers said Monday. Ghosn, 64, formerly in charge of the Nissan and Renault carmakers, has been in detention since his shock November 19 arrest, and has tried repeatedly without success to secure bail. “We have decided to […]
TOKYO, Japan (AFP) — Lawyers for former Nissan chief Carlos Ghosn on Thursday filed a fresh bail request for the auto titan who has been detained for more than three months, the Tokyo District Court said. It is the first bail request filed by the 64-year-old since he shook up his legal team as he crafts his defence to three charges of financial misconduct. The former high-flying executive has been in detention since his shock […]
TOKYO, Japan (AFP) — Detained auto tycoon Carlos Ghosn believes his arrest and the charges against him are the result of a “plot and treason” at his former employer Nissan, he told the Nikkei newspaper Wednesday. The Japanese business daily quoted Ghosn as saying he had “no doubt” that the charges against him were motivated by Nissan executives opposed to greater integration of the firm with its French alliance partner Renault. It was the first […]
