GM wants money from Nissan, Renault

The latest round of reports coming out of the Nissan-Renault-GM talks are quite sensational. Although there have been hints that Ford is on Carlos Ghosn's speed dial should things go sour with GM, according to the latest newsletter from the American International Automobile Dealers Association (AIADA) General Motors is going to tell Nissan and Renault today that their proposed deal looks good. As long as they can cough up a few billion dollars to secure the three-way alliance.GM feels it would need the money as compensation because it would be bringing much more to the table in any partnership between the three, reports The Wall Street Journal. This doesn't sound like a simple request to get the i's dotted and t's crossed. Whereas Renault-Nissan CEO Carlos Ghosn wishes to have an alliance involving taking big stakes in GM, such a deal is unlikely.GM Chief Rick Wagoner will go before his board of directors on Oct. 3, to outline his analysis of the proposed alliance, showing how it would favor Nissan-Renault more than GM. A final decision is expected by October 15.[Source: The Auto Channel]:

Nissan Moon city-car concept

Designer Robert Hoffmann drew up this Nissan concept for an auto magazine. The futuristic conveyance is not intended for production, but it's an interesting exercise just the same.

The oversized rear wheels are slanted inward, and move backward for highway cruising, optimizing space when retracted for city driving and enhancing stability in conjunction with a deployable rear wing at higher speeds.

The "car of tomorrow" would theoretically employ a hybrid or electric power plant if it were actually built. Kinda looks like a cross between an alien and an iPod.

(Follow the jump for more pics.)

[Source: via Motor Authority]

BREAKING NEWS: Kerkorian may buy up more of GM

Kirk Kerkorian may buy up to 12 million additional shares of GM stock, according to Automotive News. The billionaire investor would need approval from the Securities and Exchange Commission for the deal because it would send his company, Tracinda Corporation, well over 10 percent ownership of GM common stock.

The move supports GM's potential alliance with Renault/Nissan, a merger that Kerkorian has battled for from the beginning. Officially, Tracinda said this in the filing with the SEC:

"Tracinda continues to believe that a strong opportunity exists in a potential alliance between General Motors, Renault and Nissan and that there should be strong General Motors board involvement in the analysis of such a potential alliance, including the utilization of independent advisors."

We're interested to see what power this gives Kerkorian and right-hand man Jerry York, whom Kerkorian has placed onto GM's board of directors.

[Source: Automotive News]

Nissan to unveil '07 Altima Hybrid one week from today

While the news this week will be dominated by the goings-on in Paris, Nissan is getting ready to make a spash of its own exactly one week from today.At the Orange County Auto Show, Nissan will officially pull the wraps off the 2007 Altima Hybrid. The car is the first gasoline-electric hybrid for the automaker, and it will be greeted in the marketplace by competitors from Toyota (whose hybrid technology it uses), Honda and GM. If you live outside of California or the Northeastern United States, you're going to be out of luck if you want one, as Nissan is only offering the car for sale in these : California, New York, New Jersey, Vermont, Maine, Rhode Island, Massachusetts and Connecticut. The car will be built at Nissan's Smyrna, TN manufacturing facility.We'll bring you full details on the Altima Hybrid when Nissan releases them next week. will also be following the story closely.[Source: PR Newswire]