Nissan Motor has finalised plans to invest in Renault’s electric-vehicle venture Ampere, capping months of negotiations to rebalance the troubled automotive alliance.

Renault has formally signed a joint-venture agreement with Zhejiang Geely Holding Group to set up a new combustion engine and hybrid power-train company, while Saudi Aramco is still mulling an investment.

Geely will acquire a 17 per cent stake in Aston Martin Lagonda Global Holdings to become UK sports car maker’s third largest shareholder.

A new cheaper, version of the Model Y, Tesla’s bestselling model globally, will be exported from the carmaker’s Shanghai factory, source says. Customers can take delivery of the SUV between May and July.

The investment will support research and development across synthetic fuels and next-generation hydrogen technologies, the companies say.

Beijing-based BeyonCa expects to challenge the likes of BMW, Mercedes-Benz and Audi in China’s growing luxury car market segment.

Geely Automobile has been talking to Renault about potentially buying a controlling stake in the combustion-engine business that Renault is looking to spin off, according to people familiar with the matter.

Chinese carmaker Geely has taken a nearly 8 per cent stake in Aston Martin, the maker of ultra-luxury sports cars favoured by fictional secret agent James Bond.

For Geely, which has typically grown its business through global partnerships, the deal goes beyond selling cars in South Korea and is a way for the Chinese carmaker to export cars made in South Korea to America.

Renault Brilliance Jinbei Automotive, in which Renault owns a 49 per cent stake, earlier this week told more than 1,000 employees that the company would not be able to pay them monthly salaries, and that it would not contribute to their pension schemes either, according to two sources.

Renault is returning to the world’s largest passenger car market with a new focus and partnership with Geely, after abandoning a pandemic-hit venture in Wuhan in April last year.

China controls about 90 per cent of the world’s supply of rare earths, but trade frictions are driving Western governments and car makers to find alternative suppliers.

French President Emmanuel Macron is expected to unveil the agreements on Monday at Renault’s assembly plant in Douai.

Formula 2 driver closing gap on series leader Pierre-Louis Chovet, with all-important Super Licence points on offer.

‘So proud to let everyone hear the Chinese national anthem for the first time in F2,’ Zhou Guanyu tweets after debut victory at Sochi sprint.

The economic crisis triggered by the Covid-19 pandemic has put the electric vehicle ambitions of Volkswagen and other major carmakers at risk.

Renault is the second overseas carmaker to exit China's assemblies since Japan's Suzuki Motors ended its venture in 2018 to focus on India, in which the Japanese brand is the dominant marque. Renault’s exit follows years of lacklustre sales since its China joint-venture began in 2013, during which it had the lowest sales relative to its installed capacity.

China’s auto production is likely to decline ‘materially’ in the first quarter as car makers are forced to delay plant reopenings after Lunar New Year, according to S&P.

Many Japanese are outraged over former Nissan boss Carlos Ghosn’s escape from justice, but foreigners in the country say Ghosn was being punished for political and business reasons.

The country, which does not have an extradition agreement with Tokyo, also asked Japan to hand over Ghosn’s file on financial misconduct charges.

Fugitive car magnate maintains his innocence and vows to clear his name, in first press conference since skipping bail.

Internet lights up with unconfirmed reports and theories of how Carlos Ghosn, now an international fugitive, pulled off an escape befitting a Hollywood thriller.

The former head of Nissan has fled to Lebanon, saying he refuses to be ‘held hostage by a rigged Japanese justice system’, while Malaysia is still trying to bring in the alleged 1MDB mastermind.

US Securities and Exchange Commission alleged that company hid more than US$140 million of former chief executive officer’s compensation from investors.

Anthoine Hubert, who was considered a serious talent by Renault’s F1 set up, died aged 22 after a three-car pile-up also involving Juan Manuel Correa and Giuliano Alesi.

A pilotless car, shark-inspired motorcycle and lightweight jet are among the OTT machines on offer at the luxury brand’s new showroom at The Boulevard in Macau’s City of Dreams resort

Ghosn suspected of hiring the entire palace in exchange for a philanthropic deal between the state-owned property and Renault.