Mitsubishi has officially tied the knot with its savior, making Renault-Nissan chairman Carlos Ghosn the only automotive executive in the world (and possibly the galaxy) to head three companies.
The $2.29 billion deal gives Ghosn’s Renault-Nissan alliance a 34 percent controlling stake in Mitsubishi — a financial lifeline for the struggling, scandal-plagued automaker. Already, the company’s new chairman (and demoted former chair) have big, big plans for the Mirage maker.
Nissan-sized plans. (Read More…)
Times are still tough in Russia, and your average Moscovite or St. Petersburgian doesn’t want to risk buying a new car — unless it’s a vivid, modern new Lada.
Lada, the much-maligned butt of Western jokes for decades, has reaped the rewards of luring a British ex-Volvo designer into its fold. In a vehicle market that continues to contract like a dying star, Lada’s new models are a pinpoint of light. (Read More…)
The Russian automaker that manufactures Lada vehicles won’t see Carlos Ghosn at its board meetings after this June.
The Renault-Nissan CEO and chairman is expected to be replaced as chairman of AvtoVAZ at the company’s June 23 shareholders meeting, the automaker has stated, with Dr. Serguey Skvortsov taking his place.
Ghosn remains the chairman of Alliance Rostec Auto BV, the holding company that controls AvtoVAZ. Renault-Nissan bought a majority stake in the company, which is a joint venture with Russian Technologies, in 2012. (Read More…)
Renault-Nissan CEO Carlos Ghosn did well for himself in 2014, banking around $16 million in compensation compared to the salaries of other automotive CEOs.
Billionaire investor Kirk Kerkorian died Tuesday at the age of 98, leaving behind a legacy which included the automotive industry in his twilight years.
As the Datsun brand stumbles in India, Renault-Nissan unveiled the Kwid Wednesday to take on the challenge of beating the best-selling Maruti Suzuki Alto.
An attempt to bring further integration within Renault-Nissan resulted in the French government tightening its hold on Renault against CEO Carlos Ghosn.
Renault-Nissan CEO Carlos Ghosn warned Monday that Russia’s auto market will lose a third of itself under the nation’s recession.
Currency fluctuations and a lack of volume helped bring an end to a deal that would have seen Mitsubishi sell Renault-Samsung vehicles as their own in North America, according to a report by Just-Auto.
Last year, Renault-Nissan resurrected Datsun, positioning the brand for emerging markets — like India, Russia and Indonesia — with a portfolio of models that would attract new, young consumers whose wallets were a bit thin.
It’s not quite working out thus far.