Renault shareholders approved CEO Carlos Ghosn's 7.4 million euro ($8.6 million) compensation for 2017, averting a boardroom crisis as the automaker explores closer consolidation with alliance partner Nissan.
Carlos Ghosn said there are questions as to whether the Renault, Nissan and Mitsubishi alliance can continue in its current form amid talk of a full merger that could help the automakers pool resources better in the new age of electrified vehicles and autonomous driving.
Renault boss Carlos Ghosn faces a tense salary vote at the company's annual shareholder meeting when the French government, the automaker's largest shareholder, is expected to oppose his 7.4 million euro ($8.7 million) 2017 payout.
Germany's Transport Ministry questioned Daimler CEO Dieter Zetsche over how many Mercedes vans and cars need to be fixed to meet emissions rules after the automaker was ordered to recall Vito vans because they breached emissions regulations.
PSA and Renault have spent hundreds of millions of euros to rebuild their businesses in Iran. Those investments are at risk following the U.S. decision to withdraw from a nuclear accord and re-impose sanctions on companies that do business in both Iran and the U.S.
Nissan CEO Hiroto Saikawa dismisses reports that his Japanese carmaker is hammering out full integration with longtime alliance partner Renault, saying "There is no fact to the effect that we are negotiating any merger."
An electrified road in Sweden that is the first in the world to charge vehicles as they drive along is showing promise and could potentially help cut the high cost of EVs, project backers Vattenfall and Elways said.
Renault said revenue rose by a smaller-than-expected 0.2 percent in the first quarter, as the company suffered sales setbacks in India, China and South Korea, compounded by the effects of a stronger euro.
The alliance between Renault and Nissan needs to come up with a sustainable plan -- something "irreversible" -- for a future when Carlos Ghosn is no longer around as chairman to guide the partnership, the top executive says.
Renault has shuffled the leadership of its Dacia and Lada subsidiaries, appointing Antoine Doucerain as managing director of Dacia, replacing Yves Caracatzanis, who becomes CEO of AvtoVAZ, which makes the Lada cars.
Carlos Ghosn has revived two troubled automakers and he's in the midst of doing so with a third. Now, he's poised to undertake what might well be his final act: A full merger of Renault SA and Nissan Motor Co.