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☆ Nissan to overhaul electric powertrains for EVs, hybrids in search of cost cuts
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +1 min

The Japanese automaker said it will use the same components across models to make electric powertrains - the assembly which propels a vehicle - smaller and lighter, and reduce development and production costs by 30% within three years versus 2019. "Materials that don't use such expensive precious metals are being developed, which will be a major factor in reducing costs," Hirai said. The effort is among many by automakers trying to make new-energy vehicles more affordable, such as by reducing the cost of electric powertrains which have yet to achieve parity with those used in traditionally powered vehicles. Nissan will apply its streamlined approach to powertrains to different sizes of vehicles, expecting to equip such vehicles as micro "kei" and mid-sized cars from 2024 or 2025, Hirai said. Nissan became one of the first mass-market electric-vehicle makers with its Leaf model more than a decade ago.

☆ S&P cuts Nissan credit rating to junk status
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

TOKYO, March 7 (Reuters) - Nissan Motor Co Ltd's (7201.T) credit rating was cut to junk status by S&P Global Ratings on Tuesday, which said the Japanese automaker's earnings will remain weaker than previously assumed, given the prospect of another tough year in 2023. S&P slashed Nissan's rating by one notch to BB+ from BBB-, it said in a statement, a move that placed it below investment grade. "Performance at the company has been sluggish for more than three years," the rating agency said in the statement, adding that the impact of global supply chain disruptions in key automotive components will likely continue in 2023. "Also, in the second half of the year, we expect softening demand for new car sales in the U.S. and Europe will pressure sales prices," it said. Reporting by Daniel Leussink, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Nissan and Mexican workers agree to 9% raise at Morelos plant, union says
▼ + stars: | 2023-03-03 | by ( ) www.reuters.com time to read: +1 min

MEXICO CITY, March 3 (Reuters) - Labor representatives at a Nissan Motor Co Ltd (7201.T) plant in the central Mexican state of Morelos have reached an agreement with the Japanese carmaker to hike pay 9% as of April, the union said. Leobardo Herrera, head of the Independent Union of Nissan Mexico Workers, said the union aimed to boost pay beyond inflation - which stood at 7.76% in early February - and came to a deal quickly with the company. The new salaries will be in place for a year before the union and company re-negotiate, Herrera said. Nissan Mexicana, as the company's Mexico unit is known, said it negotiated with the union in February and is committed to ensuring labor rights for the roughly 1,500 unionized workers at its Morelos plant, which produces the NP300 pickup truck. The automaker produces other models at plants in the state of Aguascalientes a few hundred miles northwest of Morelos, which are represented by a different union.

☆ Factbox: As Tesla prepares a Mexico plant, a look at auto plants in Mexico
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +3 min

[1/2] A general view shows the General Motors assembly plant in Ramos Arizpe, in Coahuila state, Mexico February 11, 2021. REUTERS/Daniel BecerrilFeb 28 (Reuters) - Mexico has long been a manufacturing hub in North America for multiple automakers, and the country is trying to position itself for the wave of electric vehicles (EVs) to come. The auto sector is a driver of Mexico's major manufacturing industry, which is heavily integrated into U.S. and Canadian supply chains. Mexican officials on Tuesday said Tesla Inc (TSLA.O) is the latest automaker with plans to build a plant in Mexico. Here are major automakers with plants in Mexico -General Motors Co (GM.N)Silao Plant in the central city in Guanajuato state, produces Chevrolet and GMC full-size pickup trucksRamos Arizpe Plant in the northern city in Coahuila state, builds the Chevrolet Equinox and Blazer SUVs now and will build the 2024 Blazer EV and Equinox EVSan Luis Potosi Plant in the state capital of the central state of San Luis Potosi, produces the Chevrolet Equinox and GMC TerrainFord Motor Co (F.N)Cuautitlan Assembly plant in the central city of Cuautitlan Izcalli, produces Ford Mustang Mach-EHermosillo Assembly Plant in the state capital of the northern state of Sonora, produces Ford Bronco Sport and Ford MaverickToyota Motor Corp (7203.T)Toyota Motor Manufacturing de Baja California in the northern border city of Tijuana, Baja California, produces the Toyota Tacoma pickupToyota Motor Manufacturing de Guanajuato in Apaseo el Grande, Guanajuato, produces the Toyota TacomaStellantis (STLAM.MI)Saltillo Truck Assembly Plant in the state capital of Coahuila, produces Ram light and heavy-duty pickupsSaltillo Van Assembly Plant, makes the Ram ProMaster vanToluca Assembly Plant, produces the Jeep CompassNissan Motor Co (7201.T)Nissan Mexicana (Cuernavaca) in the central city of Jiutepec, produces NP300 pickup truckNissan Mexicana (Aguascalientes 1 Plant) in the central city of Aguascalientes, produces March, Versa, KicksNissan Mexicana (Aguascalientes 2 Plant), produces SentraNissan also has a joint venture plant with Mercedes (MBGn.DE) in Aguascalientes, making the Infinti QX 50 and 55 SUVs, and Mercedes GLB SUVHonda Motor Co (7267.T)Honda de Mexico (HDM) in Celaya, Guanajuato, produces HR-VVolkswagen (VOWG_p.DE)Volkswagen de México in Sanctorum, Puebla, produces Jetta, Tiguan, TaosVW's Audi unit in San José Chiapa, Puebla, produces Audi Q5 premium SUV and plans to start manufacturing EVs by 2027Mazda Motor Corp (7261.T)Mazda de Mexico Vehicle Operation (MMVO) in Salamanca, Guanajuato, produces Mazda2, Mazda3, Mazda CX-30Kia AmericaHyundai Motor Co's (005380.KS) Kia has a plant in Pesqueria, Nuevo Leon, produces Kia Forte, RioBMW AGBMW Plant in San Luis Potosi, produces BMW 3 Series, 2 Series and will produce fully electric "Neue Klasse" modelsSOURCES: Carmakers and Auto Forecast SolutionsCompiled by Kannaki Deka in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Nissan Recalls More Than 800,000 Rogue SUVs for Key Defect
▼ + stars: | 2023-02-28 | by ( Jennifer Calfas | ) www.wsj.com time to read: 1 min

Nissan said it would begin notifying owners of the recalled vehicles in March. Nissan North America Inc. is recalling more than 809,000 sport-utility vehicles in the U.S. and Canada due to an issue with the key that could cause the cars to shut off accidentally. The recall affects certain Nissan Rogue Sport models from 2017 to 2022 and Nissan Rogue models from 2014 to 2020, said Nissan Motor Co. Ltd.’s North American unit. The majority of recalled vehicles are in the U.S., according to the auto maker.

☆ Nissan raises global EV targets; to boost U.S. input
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

Nissan now aims to have electrified vehicles - which include its advanced hybrid e-power cars - make up over 55% of global sales by fiscal 2030, up from a previous goal of 50%, it said. The EV mix will increase to 44% by fiscal 2026 from an earlier target of 40%, Nissan said. REUTERS/Mike BlakeThe automaker plans 27 new electrified vehicles by that year, 19 of which will be all-battery EVs, it said in a statement. That compared with its previous plan of 23 electrified vehicles including 15 all-battery EVs. Nissan is confident it will be in compliance with the Act due to the localisation of battery production starting from 2026.

☆ Nissan raises global EV targets; to increase U.S. localisation
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +1 min

Nissan now aims to have electrified vehicles - which include its advanced hybrid e-power cars - make up over 55% of global sales by fiscal 2030, from a previous goal of 50%, it said. The automaker plans 27 new electrified vehicles by that year, 19 of which will be all-battery EVs, it said in a statement. That compared with its previous plan of 23 electrified vehicles including 15 all-battery EVs. Nissan is confident it will be in compliance with the Act due to the localisation starting calendar year 2026, Gupta said in an online briefing. Reporting by Rocky Swift; Editing by David Dolan and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

☆ Nissan considering second battery source in U.S., Gupta says
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Feb 27 (Reuters) - Nissan Motor Co Ltd (7203.T) is considering securing a second battery source in the United States to help the Japanese automaker meet requirements for the Inflation Reduction Act, Chief Operating Officer Ashwani Gupta said on Monday. Gupta made the comment during briefing about Nissan's electrification strategy. The company aims to raise its global share of electric vehicles sales to more than 55% by 2030 from a previous forecast of 50%. Reporting by Rocky Swift; Editing by David DolanOur Standards: The Thomson Reuters Trust Principles.

TOKYO, Feb 22 (Reuters) - Toyota Motor Corp (7203.T), the world's biggest automaker, said on Wednesday it would accept a union demand for the biggest base salary increase in 20 years and a rise in bonus payments, as Japan steps up calls for businesses to hike pay. As one of Japan's biggest employers, Toyota has long served as a bellwether of the spring labour talks, which are in full swing at major companies. The All Toyota Workers' Union is set to hold a media briefing later on Wednesday. "We will boost consumption and expand domestic demand by promoting efforts toward structural wage increases," Kishida said at a lower house budget committee session on Wednesday. Video game maker Nintendo Co Ltd (7974.T) said earlier this month that it planned to lift workers' base pay by 10%, despite trimming its full-year profit forecast.

☆ Nissan, Renault to invest $600 million to make 6 new models in India
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakeTOKYO, Feb 13 (Reuters) - Nissan Motor Co (7201.T) and Renault SA (RENA.PA) said on Monday they would invest $600 million to make six new models in India, one of three markets in which the two automakers plan to coordinate closely in a revamped alliance announced last week. Two models would be electric vehicles (EVs), the companies' first in India; the others would be sports utility vehicles. Unlike Nissan, Renault does not have a significant presence China, the United States and Japan, raising the stakes for its success in India. Industry-wide sales in India surged 23% last year to 4.4 million vehicles, overtaking the Japanese market, according to S&P Global Mobility. The Chennai plant can produce about 500,000 vehicles a year, but last year Renault sold only 87,000 in India and Nissan 35,000.

☆ Nissan's 2022 contribution to Renault results highest in four years
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

PARIS, Feb 9 (Reuters) - French carmaker Renault (RENA.PA), which is revamping its 24-year old alliance with Nissan (7201.T), said on Thursday the Japanese firm contributed 174 million euros ($187 million) to its own results in the fourth quarter. The total contribution for 2022 stood at 526 million euros, the highest amount since 2018 and up from 352 million euros in 2021. Renault, which under the overhaul of the partnership will cut its stake in Nissan to 15% from 43% now, will announce its own full-year results on Feb. 16. The stake that is being cut will be placed in a French trust, with Renault continuing to cash in on related dividends. ($1 = 0.9300 euros)Reporting by Gilles Guillaume; writing by Silvia Aloisi; Editing by Richard LoughOur Standards: The Thomson Reuters Trust Principles.

☆ 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.

☆ Nissan, Renault Alliance Shake-Up to Give Each Company More Independence
▼ + stars: | 2023-02-06 | by ( River Davis | Nick Kostov | ) www.wsj.com time to read: 1 min

LONDON— Nissan Motor Co. and Renault SA unveiled on Monday a long-planned restructuring of their two-decade-old alliance—a decoupling that falls short of a full divorce but gives each car company more autonomy after years of tensions. The restructuring, under which Renault will reduce its 43% stake in its Japanese partner to 15%, reflects a changing landscape in which alliances to build millions more gasoline-powered cars are no longer so valuable. Instead, new types of partnerships in batteries, electric-vehicle technology and software have grown in importance.

☆ Nissan shares rise after overhaul of Renault alliance
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +1 min

TOKYO, Jan 31 (Reuters) - Shares of Nissan Motor Corp (7201.T) rose in early trade in Tokyo on Tuesday, after the Japanese automaker and its French partner Renault SA (RENA.PA) announced a sweeping overhaul of their two-decade-old alliance putting them on equal footing. Nissan shares were up almost 2%, outperforming a flat Nikkei 225 share average (.N225). Under the deal announced on Monday, Nissan and Renault will now hold 15% stakes in each other, and Nissan will get voting rights with its stake. Previously, Renault held around 43% of the Japanese automaker and Nissan did not have voting rights. The uneven nature of the alliance had long been a source of friction for Nissan executives.

Nissan Motor Co. and its French partner, Renault SA, said Monday they have agreed to reorganize their alliance, more than two decades old, in a deal that includes reducing Renault’s stake in Nissan. The Japanese auto maker achieved its long-sought goal of limiting its partner’s control over its management, while the French company got an investment in its electric-vehicle business, as it had wanted. The amount of the investment wasn’t disclosed.

☆ Nissan, Renault Reach Deal on Alliance Shake-Up
▼ + stars: | 2023-01-30 | by ( River Davis | ) www.wsj.com time to read: 1 min

TOKYO— Nissan Motor Co. and its French partner Renault SA said Monday they reached an agreement to reorganize their more than two-decade-old alliance. Nissan and Renault have agreed to a deal under which the French auto maker will reduce its 43% stake in Nissan to 15%, the companies said. Renault will transfer 28% of its Nissan shares into a French trust, they said.

☆ Taiwan's Foxconn taps former Nissan and Nidec heavyweight Seki for EV business
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

[1/2] Nissan Motor executive officer and vice-COO Jun Seki speaks during a news conference at Nissan Motor headquarters in Yokohama, Japan, December 2, 2019. Seki had been recruited to Nidec from Nissan by Nidec's hard-driving founder Shigenobu Nagamori in 2020 to help Nidec become a major player in components for next-generation automobiles. Seki spent three decades at Nissan, including a stint heading its China business. He was widely seen as a contender for chief executive, but was passed over for the current chief, Makoto Uchida. He left Nissan for Nidec not long after being charged with leading the automaker's turnaround plan.

☆ VIEW Nissan, Renault agree to overhaul alliance, putting themselves on equal footing
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +3 min

"We understand Renault is able to ring fence its own technology within the alliance allowing the firm to collaborate also with other external partners beyond the Renault Nissan alliance. "Overall we welcome this step which will enhance the industrial collaboration within the alliance." JEFFERIES"A re-sized capital structure should help keep the Alliance viable, maintaining synergies and opening up strategic opportunities on both sides. Ultimately it means that a disorderly unwind of the alliance has been avoided which is a positive. "Over the short term, it's possible there may be selling (of Nissan shares) due to a worsening of supply and demand.

☆ Nissan and Hitachi look to charge elevators with EV batteries
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] 2023 Nissan Pathfinder is unveiled at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. In what appears to be an early attempt in earthquake-prone Japan to make wider use of EV batteries, Nissan and Hitachi Building Systems Co Ltd are focused on keeping elevators running when the power supply is disrupted. The V2X system uses the CHAdeMO charging standard supported by Nissan, an Hitachi Building Systems executive said. That allows it to also draw power from larger Nissan EVs, such as the Ariya and Leaf models. Tatsunori Takahashi, a director in the domestic business management division of Hitachi Building Systems, said he hopes the firm will start providing the system to apartment buildings from the financial year starting in April.

The Renault stand at Brussels Motor Show 2023. Renault and Nissan have been hammering out the deal’s details for months. Renault SA and Nissan Motor Co. Ltd. are nearing a deal to reshape their 20-year-old alliance, according to people familiar with the matter, in a restructuring that would reduce the French car maker’s shareholding in its Japanese partner and give both companies more autonomy. A deal could be officially unveiled early next month, these people said, and would represent the most significant change in the car makers’ alliance since it was forged amid a financial crisis at Nissan.

☆ For automakers, the EV surge is everything everywhere all at once
▼ + stars: | 2023-01-26 | by ( Joseph White | ) www.reuters.com time to read: +4 min

He must accelerate the Japanese automaker's efforts to develop more competitive electric vehicles. But he will get little breathing room from Tesla or the Chinese EV manufacturers who are using their leads in EV technology and production costs to slash prices. THE SHIFTING GROUNDGlobal automakers are experienced with periods of feast and famine that come on roughly seven-to-ten year cycles. South Korea's Hyundai Motor Co (005380.KS) on Thursday reported better-than-expected results powered in part by strong sales of its new EV lineup. Hyundai forecast its EV sales would grow by 54% this year - a faster growth pace than Tesla has forecast.

☆ Nissan and Renault close in on overhaul of alliance
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

TOKYO/PARIS, Jan 26 (Reuters) - Nissan and Renault are closing in on a sweeping overhaul of their globe-spanning automaking alliance as top executives meet on Thursday for talks to reset the two-decade-old partnership and chart a course for an uncertain electric future. Leaders of Nissan Motor Co Ltd (7201.T) and Renault SA (RENA.PA) are meeting via video link for an alliance board meeting, sources previously told Reuters. The future shape of the Franco-Japanese alliance has implications for both companies as well as their junior partner, Mitsubishi Motors Corp (7211.T). Renault, for instance, has said it will partner with companies from China's Geely Automobile Holdings (0175.HK) to semiconductor giant Qualcomm Inc (QCOM.O). Nissan has been concerned that the technology it has developed while partnered with Renault could leak to the French automaker's partners as it restructures, Reuters has reported.

According to the document, Aramco's investment would be used to support development of decarbonization technologies for gasoline engines. SUBJECT TO BOARD APPROVALSThe oil company's deal with Geely and Renault still needs approval by the boards of the automakers, one of the people said. For Geely, the deal with Renault extends its pattern of building partnerships to expand beyond China. In that kind of arrangement, gasoline engines could be designed to operate in an "exceptionally efficient mode," one of the sources said. Geely has a previously announced a hybrid gasoline engine development deal with Mercedes-Benz (MBGn.DE) and holds a stake in the German automaker.

☆ Nissan directors endorse steps to reach deal with Renault-sources
▼ + stars: | 2023-01-17 | by ( Maki Shiraki | ) www.reuters.com time to read: +3 min

The Nissan board-level review also marked progress after three months of working-level negotiations aimed at restructuring a partnership that dates back to 1999, when Renault bailed out Nissan. The Nissan outside directors, meeting in committee, endorsed steps to try to reach an agreement between the two sides, they said. The two companies are discussing reducing Renault's stake in Nissan from the current 43% to 15%, equal to Nissan’s stake in Renault. The 28% stake in Nissan that Renault would sell would be transferred to a trust, people involved have said. At the same time, Nissan is considering investing in a new electric vehicle company that Renault aims to establish code-named Ampere.

☆ Nissan, Renault agree to limit use of IP in new venture - Nikkei
▼ + stars: | 2023-01-04 | by ( ) www.reuters.com time to read: +2 min

The sharing of technology had emerged as a sticking point between Renault and Nissan Motor as the pair negotiated an overhaul of their decades-old partnership, Reuters reported in October. Renault had told Nissan that it wanted to use patents and other IP jointly acquired with Nissan in the new venture, the report said citing sources. However, Nissan had raised concerns about the treatment of IP, including battery and powertrain technology. Nissan said it would not allow the use of joint IP for products to be offered in the United States and China to forestall competition with the new company and prevent technology leaks, the Nikkei report said. Nissan wants to ensure that key internal-combustion and hybrid technology it owns is protected in any deal Renault strikes with Geely, Reuters reported in November.

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