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NEWS
May 21, 1987 | Associated Press
The French auto maker Renault agreed to sell its 46.1% holding in the American Motors Corp. to Chrysler Corp., Renault announced today. The sale, approved by Renault's board of directors, would complete the biggest merger ever in the U.S. auto industry pending approval by shareholders and regulatory authorities. Chrysler is to pay Renault $200 million, with a contingency payment that could reach $350 million, a Renault spokesman said.
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BUSINESS
January 12, 2010 | Dan Neil
This may come as something of a shock, but I am a liberal progressive environmental do-gooder. I know. Just keep breathing. You'll come around. I am also a car guy. As such, I am precisely the sort of prospect Renault means to cultivate in its film "Drive the Change" (Publicis), a two-minute corporate manifesto that declares the company's intention to radically reinvent personal mobility around electric-vehicle technology. The film debuted at the Frankfurt auto show in September, and various "Drive the Change" campaign works -- multiplexed across TV, Web and social media formats -- will circulate globally as Renault ramps up to sell four new electric models by 2011.
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BUSINESS
December 17, 1986
He is expected to be elected chairman and president of the French auto maker later this week. Levy, 59, a Frenchman, now heads the Belgian state-controlled steel company, Cockerill-Sambre. France's Ministry of Industry disclosed last week its choice of Levy to follow Georges Besse as president of the government-owned auto maker, but the official announcement was held up during negotiations with Belgium to free Levy from a five-year contract.
BUSINESS
November 14, 2009 | Tiffany Hsu
On the vast expanse of asphalt outside Dodger Stadium, Nissan Motor Co.'s new electric car made its U.S. debut Friday, zipping quietly through a maze of orange cones on its way to what the Japanese automaker hopes will be the top of the clean transportation class. The Nissan Leaf, a five-seat, zero-emission hatchback, will start filtering into select markets in the U.S., Europe and Japan next year and will go global in 2012 at a price just 1% to 2% higher than similar-size vehicles, the carmaker said.
BUSINESS
June 27, 1985
The financially troubled French car maker reported that it is selling its 51% interest in Renix Electronique SA of France to Allied Corp., which owns the other 49% and is a major auto industry supplier. The price wasn't disclosed. Renix makes electronic ignitions, fuel-injection systems, electronic automatic transmissions and engine sensors.
NEWS
November 17, 1986 | From Times Wire Services
Georges Besse, president of the state-run Renault automobile company, was shot to death tonight near his home in Paris, officials said. The 58-year-old Besse was felled by several gunshots about 8:25 p.m. on Boulevard Edgar Quinet, almost in front of his home. The Agence France Presse news agency said Besse was shot by a man and a woman driving by in a car.
BUSINESS
January 12, 1987
France's state-owned auto group isn't excluding those possibilities if American Motors Corp. looks as if it will continue piling up losses, industry sources said. Renault officials confirmed that the firm's newly appointed chief executive, Raymond Levy, is to fly to the United States soon for talks with AMC executives. Levy has made clear since arriving at Renault that his guiding principle in bringing about the recovery of the auto maker will be profitability. Renault has a 46% stake in the U.
BUSINESS
May 22, 1990 | From Times Wire Services
The European Commission ordered French car maker Renault today to repay $625 million out of a total of $2.1 billion of aid it received from the French government. A spokesman for the commission, the executive body of the European Community, said the state-owned car maker must also keep another $446 million on its books as long-term debt, paying interest as scheduled. He told reporters that France will not be allowed to inject fresh capital into the company until the end of 1990.
BUSINESS
May 1, 1987
American Motors Corp. said the 0% financing will apply to certain 1986 and 1987 Renault cars and Jeeps, starting May 1. It is the company's second such sales incentive campaign in less than 12 months. AMC ran a similar program last autumn. The new sales campaign comes just a month after Chrysler, the third-largest U.S. auto maker, agreed to acquire the 46% stake in AMC held by Renault, the French state-owned car company.
BUSINESS
March 23, 1986
American Motors Corp. directors promoted company President Jose Dedeurwaerder to vice chairman and promoted chief operating officer Joseph Cappy to president and chief executive. The moves were the latest in a series that allow Dedeurwaerder to expand his simultaneous duties at the French auto maker Renault, which controls Southfield, Mich.-based AMC with a 46% ownership.
CALIFORNIA | LOCAL
March 24, 2009 | Tony Perry
If the future is widespread use of electric cars, it may arrive in San Diego before other places in car-happy Southern California. Renault-Nissan and San Diego Gas & Electric Co. announced a deal Monday to deploy Nissan's new all-electric vehicle on the roads here before it hits the consumer market in 2012. The utility plans to lease 15 to 20 and urge its customers -- private, public and military -- to consider switching to electric vehicles.
BUSINESS
February 10, 2009 | Bloomberg News
PSA Peugeot Citroen and Renault, France's biggest carmakers, will get $7.8 billion in loans from the French government after they promised not to shut plants or fire people in the country. Peugeot and Renault, which reported slumping sales and thousands of job cuts in the last year, will each get a five-year loan of 3 billion euros at an interest rate of as high as 6%, French President Nicolas Sarkozy said after talks with auto manufacturers in Paris on Monday.
SPORTS
September 29, 2008 | From the Associated Press
In Formula One's first night race, Renault's Fernando Alonso won the Singapore Grand Prix after starting 15th on the grid Sunday while McLaren's Lewis Hamilton extended his championship lead. Alonso won for the 20th time in his career, his first victory since last year's Italian Grand Prix. Williams' Nico Rosberg was second, his best Grand Prix finish, and Hamilton was third. "After qualifying, our hopes were gone already," Alonso said.
BUSINESS
December 8, 2007 | From Times Wire Services
Renault, France's second-largest automaker, agreed to buy 25% of Russia's OAO AvtoVAZ, fending off a bid from General Motors Corp. Renault will purchase the stake in Russia's No. 1 car company from state-owned arms exporter Rosoboronexport, a spokesman for the defense firm said. He declined to give a price.
BUSINESS
September 28, 2006 | From Times Wire Services
General Motors Corp., Nissan Motor Co. and Renault will continue talks as planned until mid-October on a possible global alliance, the automakers said Wednesday after their chief executives met. GM's Rick Wagoner met on the eve of the Paris Motor Show with Carlos Ghosn, who heads both Nissan of Japan and its controlling partner, Renault of France. "It's fair to say that we agreed that Oct.
BUSINESS
September 7, 2006 | From Reuters
AUTOS French carmaker Renault confirmed that it was hiring two advisory banks for a possible alliance with General Motors Corp. and its existing ally, Nissan Motor Co. GM and Renault have launched a 90-day study into the possibilities of a three-way alliance with GM. The Financial Times said that Renault had hired investment bank BNP Paribas to advise it on a possible three-way tie-up and that the carmaker had a list of other investment banks to advise it on the deal.
BUSINESS
April 26, 1986
American Motors reported an $18.9-million loss for the first quarter and cited continued sluggish sales of subcompact cars. Contributing to the loss were costs of launching the Jeep Wrangler, which replaced the Jeep CJ. AMC's showing was an improvement from a year earlier, when the car maker lost $29 million. The new figures put AMC's cumulative losses since 1980 at $759 million.
BUSINESS
May 21, 1987 | JAMES RISEN, Times Staff Writer
After more than two months delay, American Motors finally agreed to be acquired by Chrysler after the No. 3 auto maker upped its offer, AMC announced Wednesday. AMC's board of directors, which had been studying Chrysler's takeover proposal since March, said Wednesday it approved a deal under which Chrysler will buy all of AMC's outstanding shares not held by Renault, the French auto maker, for $4.50 per share.
BUSINESS
August 24, 2006 | From Times Wire Services
Shares of Ford Motor Co. surged 4.6% on Wednesday after a news report that Chief Executive William Clay Ford Jr. had approached Carlos Ghosn, CEO of Nissan and Renault, about forming a global alliance. The report in the Wall Street Journal cited "a person wellpositioned to know." It was part of a commentary in the paper's opinion section by Paul Ingrassia, vice president for news strategy of Journal publisher Dow Jones & Co., and Joseph B. White, the paper's Detroit bureau chief.
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