Renault Group* (Euronext: RNO) and Nissan (7201T and NSANY ADR) today announced new business projects for the evolving remains of the failed Renault Nissan Alliance. Renault Group would own 100% of Renault Nissan Automotive India Private Ltd (RNAIPL) by acquiring the 51% shareholding currently held by financially ailing Nissan. Nissan said it will maintain a presence in India with a focus on increasing market coverage. At its heart the shuffle involves complex product programs across global markets, once again requiring cooperation among diverse and distinct corporate cultures that have a troubled past working together. **
“RNAIPL would continue to produce Nissan models, including the New Nissan Magnite, and will serve as a crucial pillar for the company’s future expansion plans. Nissan chooses Renault Group to develop and produce a derivative of Twingo, designed by Nissan. The New Alliance Agreement would be amended to increase the flexibility of each party regarding their cross-shareholdings by setting the lock-up undertaking at 10% (instead of 15% currently). Nissan would be released from its commitment to invest in Ampere while continuing the agreed product projects,” the companies said in a joint release. Continue reading












Ford Recalls Previous Bronco and Escape Fire Recalls
Ford Motor Company (NYSE: Ford) is recalling ~34,000 model-year 2020-2022 Escape and 2021-2023 Bronco Sport vehicles previously repaired incorrectly under NHTSA recall numbers 22V-859 or 24V-187. A fuel injector may crack and leak fuel inside the engine compartment risking a fire. It’s the latest in a growing series of Ford recalls that were not properly repaired the first time because of software programming errors, requiring a recall of the recall, so to speak.*
“According to Ford’s records, certain 2021-2023 MY Bronco Sport and 2020-2022 Escape vehicles did not have the remedy for Safety Recall 24S16 / 24V092 and/or 22S73 / 22V191 installed correctly but were recorded as having the repair successfully completed. Because the correct software update remedy may not be installed on the vehicle, the underlying condition specified in Safety Recalls 24S16 / 24V092 and/or 22S73 / 22V191 may still exist, and a fuel injector may crack, resulting in fuel and/or fuel vapor migrating to and/or accumulating near ignition sources resulting in potential under hood fire,” Ford said in the mandatory safety defect recall filing made public this morning by the National Highway Traffic Safety Administration. Continue reading →