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☆ The solid-state batteries hype is fading – prompting auto giants to consider alternatives
▼ + stars: | 2024-10-16 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +6 min

Solid-state batteries have long been billed as the "holy grail" of sustainable driving. As the name suggests, solid-state batteries contain a solid electrolyte, made from materials such as ceramics. Automakers have invested billions of dollars in solid-state battery research and teamed up with developers to produce their own versions for mass production. Tomohiro Ohsumi | Getty Images News | Getty ImagesJapan's Toyota, for instance, has said it is aiming to bring solid-state batteries into mass production between 2027 and 2028. Yet, despite growing hype over the potential rollout of solid-state batteries, analysts remain skeptical about when they will actually make it to market.

Persons: Tomohiro Ohsumi, Japan's Nissan, Germany's Mercedes, Max Reid, Wood Mackenzie, Reid, Wood Mackenzie's Reid, Julia Poliscanova, Poliscanova, Nio, Ganfeng, Environment's Poliscanova Organizations: Afp, Getty, Toyota Motor Corp, Benz Group, Stellantis, Hyundai, Kia, Environmental Defense Fund, CNBC, Transport, Environment, Paris, Show, Qingtao Energy Locations: Nanjing, China's, Jiangsu, PARIS, France, Tokyo, Japan, U.S, China

☆ Hyundai Motor posts record Q2 profit on strong U.S. sales, to boost hybrid lineups
▼ + stars: | 2024-07-26 | by ( ) www.cnbc.com time to read: +1 min

Hyundai Motor reported record quarterly profit and revenue on Thursday on strong sales of high-margin cars and said it would expand hybrid lineups to brace for possible changes in U.S. electric vehicle policies following the election. But Hyundai also warned of an uncertain outlook due to intensifying price competition as inflation and high interest rates squeeze consumers. Hyundai reported a net profit of 4 trillion won ($2.9 billion) for the April-June period, up 23% from a year earlier and easily beating the 3.4 trillion won average of 21 analyst estimates compiled by LSEG SmartEstimate. The net profit was its highest quarterly since the previous record high set in the Q2 2022. Domestic vehicle sales in South Korea, Hyundai's second-biggest market, slumped 10% in the second quarter, extending from a 16% drop in the previous quarter, as consumers continue to grapple with surging inflation and a weak economy.

Persons: LSEG SmartEstimate, Hyundai's Organizations: Hyundai, New York, Hyundai Motor, Ford, Nissan, Tesla, Kia Corp Locations: U.S, South Korea

☆ Nissan more than doubles Q2 operating profit, beating estimates
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

A visitor is seen at Nissan Motor Corp.'s showroom in Tokyo, Japan November 11, 2020. REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Nov 9 (Reuters) - Japan's Nissan Motor (7201.T) reported on Thursday it had more than doubled its operating profit for the July-September quarter, beating analysts' estimates, boosted by steady sales in North America and Japan and a weaker yen. The company reported a 127% rise in July-September operating profit to 208.1 billion yen ($1.38 billion), compared with an average estimate of 155.9 billion yen in a poll of 10 analysts by LSEG and a 91.7 billion yen operating profit in the same period a year earlier. The automaker raised its full-year forecast by nearly 13% to 620 billion yen due to a favourable impact of a weak yen and improvements in global retail sales, excluding China. The forecast compared to a 570.1 billion yen average profit forecast in a poll of 19 analysts by Refinitiv.

Persons: Issei Kato, Daniel Leussink, David Dolan, Muralikumar Organizations: Nissan Motor Corp, REUTERS, Rights, LSEG, Refinitiv, Nissan, Renault, Thomson Locations: Tokyo, Japan, North America, China

☆ Japan's Nissan to adopt Tesla EV-charging design from 2025 in U.S., Canada
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +1 min

July 19 (Reuters) - Nissan (7201.T) on Wednesday became the first Japanese automaker to agree to adopt Tesla's (TSLA.O) electric-vehicle charging technology in the U.S. and Canada, joining global peers in expanding their fast-charger network to boost EV adoption. Starting in 2025, Nissan will equip its EVs with the Tesla-developed North American Charging Standard (NACS) port, as it targets 40% of U.S. vehicle sales to be fully electric by 2030, the company said. The White House has said electric-vehicle charging stations using Tesla-standard plugs would be eligible for billions of dollars in federal subsidies as long as they included the U.S. charging standard connection, CCS, as well. From 2024, Nissan will provide NACS charging adapters with its Ariya EV models currently equipped with CCS to enable them to charge on Tesla's Supercharger network. Reporting by Shivansh Tiwary in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Biden, Shivansh, Devika Organizations: Nissan, Wednesday, Ford, General Motors, CCS, U.S . Department of Energy, Thomson Locations: U.S, Canada, United States, Bengaluru

☆ Mercedes includes buyback option as Russian assets sale given official approval
▼ + stars: | 2023-04-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tatyana MakeyevaApril 19 (Reuters) - Mercedes-Benz (MBGn.DE) has agreed on a buyback option for its Russian assets, the sale of which has now been granted official approval, the German carmaker said on Wednesday, bringing its exit from Russia one step closer. Deals to leave Russia by Western companies from so-called unfriendly countries - those that imposed sanctions against Russia - need approval from a government commission. Mercedes said it intended to withdraw from the market and that the sale of shares in its subsidiaries to Avtodom had now been granted approval. "The completion of the transaction is now particularly subject to the implementation of the contractual agreements," Mercedes said in a statement. "We have agreed an option with the buyer, according to which we could buy back the shares in companies if the sanctions are lifted again."

☆ Nissan's Q3 operating profit more than doubles, outstrips expectations
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Feb 9 (Reuters) - Japan's Nissan Motor Co (7201.T) on Thursday posted a better-than-expected 155% jump in third-quarter operating profit, boosted by a weaker yen and cost management. Operating profit for the three months ended Dec. 31 came to 133.1 billion yen ($1.01 billion), beating the average 104.79 billion yen profit estimated by nine analysts, according to Refinitiv data. That compared to a 52.2 billion yen profit in the same period a year earlier. The Yokohama-based automaker maintained its forecast for an operating profit of 360 billion yen for the year to March 31, helped by a weaker yen that bolsters the value of overseas sales. ($1 = 131.2600 yen)Reporting by Daniel Leussink; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

☆ 5 things to know before the stock market opens Monday, January 30
▼ + stars: | 2023-01-30 | by ( Mike Calia | ) www.cnbc.com time to read: +4 min

This week it will run into some big tests, given the earnings schedule dominated by big tech names (more on that below) and the Federal Reserve's next moves. Here's a look at the earnings week ahead: Tuesday: General Motors McDonald's UPS Pfizer Spotify Snap AMDWednesday: Peloton MetaThursday: Apple Alphabet Amazon Ford Starbucks Qualcomm3. Renault aims to cut Nissan stakeRenault and Nissan automobile logos are pictured during the Brussels Motor Show on January 9, 2020 in Brussels. France's Renault and Japan's Nissan have agreed to restructure their agreement, which they struck in 1999. The overall health and size of its business allows it to mix things up and try new things.

☆ Nissan gets $1.44 bln green loan for zero-emission mobility investments
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Nov 30 (Reuters) - Japan's Nissan Motor Co (7201.T) has signed a 200-billion-yen ($1.44 billion) green loan agreement to fund zero-emission mobility investments, the automaker said on Wednesday. The syndicated loan was arranged by Mizuho Bank and MUFG Bank with contract periods of five and seven years, it said in a statement. The funds will be used for research and development of zero-emission vehicles, components for electric vehicles, and other carbon-neutral initiatives, Nissan added. ($1=138.5700 yen)Reporting by Rocky Swift; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Mobile operator Veon to sell Russian business for $2.2 bln
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +2 min

Veon also operates Beeline in Kazakhstan and Kyivstar in Ukraine. Veon said the management buyout of Vimpelcom implied an expected enterprise value of approximately 370 billion roubles. Though Veon is selling at a discount, the transaction represents a relatively rare example of money changing hands between parties as companies race to exit Russia. The shares have traded near record lows since tumbling after Russia began what it calls its "special military operation" in Ukraine. "The management buyout of our Russian operations will benefit all involved," Veon CEO Kaan Terzioglu said in a statement to Reuters.

☆ Renault raises profitability targets in business overhaul
▼ + stars: | 2022-11-08 | by ( Gilles Guillaume | ) www.reuters.com time to read: +3 min

Renault's long-standing partner, Japan's Nissan (7201.T) is expected to take a stake in the EV venture, codenamed "Ampere", alongside outside investors, though Renault will keep a majority stake. Shares in Renault fell more than 4% as it gave no details on the state of play of talks with Nissan on the future of their partnership. Aside from the Ampere EV unit and the combustion engine venture, called "Horse", Renault will have an additional three businesses - the Alpine sports-car brand, financial services and new mobility and recycling activities. Using a sports metaphor, he compared the "old" Renault to a pentathlon athlete who would struggle to win gold medals in all five sport specialties. Reporting by Gilles Guillaume; Writing by Silvia Aloisi; Editing by Sudip Kar-Gupta and David EvansOur Standards: The Thomson Reuters Trust Principles.

☆ Nissan mulls taking up to 15% stake in Renault's planned EV unit - report
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Oct 27 (Reuters) - Japan's Nissan Motor Co is considering investing up to a 15% stake in Renault SA's planned electric vehicle (EV) unit, Kyodo news agency reported on Thursday, as the two companies negotiate an overhaul of their decades-old partnership. The Japanese and French automakers said this month they were in talks about the future of their alliance, including Nissan potentially investing in the electric vehicle business being spun out of Renault. No further details were immediately available. Nissan said it had no comment to make beyond a joint statement issued by the two firms earlier this month, in which they said they were engaged in discussions on a number of issues, including the EV unit. Reporting by Satoshi Sugiyama; Writing by Elaine Lies; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

☆ Mercedes-Benz to quit Russian market, sell shares to local investor
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

[1/2] The Mercedes-Benz logo is seen on a car at a new Mercedes-Benz plant's cornerstone laying ceremony in the town of Esipovo outside Moscow, Russia, June 20, 2017. REUTERS/Tatyana MakeyevaBERLIN/MOSCOW, Oct 26 (Reuters) - Mercedes-Benz (MBGn.DE) said on Wednesday it would withdraw from the Russian market and sell shares in its industrial and financial services subsidiaries to a local investor, becoming the latest carmaker to exit the country. Mercedes-Benz Russia said shares in the local subsidiaries would be sold to car dealer chain Avtodom. "Final completion of the transaction is subject to the authority's approval and the implementation of contractually agreed conditions," he added. The Association of European Businesses (AEB) said 9,558 Mercedes vehicles were sold in Russia from January to September, down 72.8% from a year earlier.

☆ Nissan, Renault relationship should be 'more equal' Renault CEO tells Nikkei
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Oct 18 (Reuters) - The relationship between Japan's Nissan Motor Co (7201.T) and top shareholder Renault SA should be "more equal", the Nikkei newspaper quoted the French automaker's chief executive as saying. "Each company needs to do what is best," he told the Nikkei, adding that that was the spirit of their alliance. Such a shift could mean the biggest reset in their relationship since the 2018 arrest of longtime executive Carlos Ghosn. Talks so far have included consideration of Renault selling some of its Nissan stake, Reuters has previously reported. For Nissan, that could mean a chance to alter a structure that many executives at the Japanese company have seen as unbalanced.

☆ Japan's Nissan sells Russian assets to state, trade ministry says
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +1 min

A view shows the logo of Nissan on a car in Moscow, Russia, July 6, 2016. REUTERS/Maxim ZmeyevSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Oct 11 (Reuters) - Japanese automaker Nissan (7201.T) is selling its Russian assets to Russian state ownership, with an option to buy back the business within six years, Russia's industry and trade ministry said on Tuesday. Nissan in a statement said it had decided to exit the Russian market and expected to incur an extraordinary loss of approximately 100 billion yen ($686.72 million) from the asset transfer. Renault reportedly sold its stake in Avtovaz for one rouble ($0.0157). "'Nissan Manufacturing Rus' is transferring its assets to the state - a deal of great significance for the industry," Industry and Trade Minister Denis Manturov said in a statement.

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