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☆ 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.

☆ Japan's Nidec posts 16% jump in Q2 operating profit to record
▼ + stars: | 2022-10-24 | by ( ) www.reuters.com time to read: +2 min

The Kyoto-based company reported 51.71 billion yen ($347.21 million) in operating profit for the three months through September, just short of a 52.3 billion yen average of five analyst estimates, according to Refinitiv data. A year earlier, it earned 44.59 billion yen. Nidec's shares dipped 2.9% during the second quarter and have dropped 41.1% this year so far. The company kept its full-year operating profit forecast of 210 billion yen for the year ending March 31. That compared with the 211 billion yen average of 21 analyst forecasts.

The French and Japanese automakers said this month they were in talks about the future of their alliance, including Nissan potentially investing in an electric vehicle business being spun out of Renault. With Nissan holding only 15% of Renault - and without voting rights - French dominance of the alliance has long been a point of contention. Renault wants Nissan to invest in its electric vehicle unit, while Nissan wants Renault to cut its stake to 15%, Reuters previously reported. Given its investment needs, Renault is the more eager of the two to reach a deal, said a person familiar with negotiations. Alliance junior partner Mitsubishi Motors Corp (7211.T) will likely invest a few percent in the new Renault unit to retain its alliance relationship, said another person familiar with the matter.

☆ EXCLUSIVE China's CATL slows battery investment plan for U.S., Mexico-sources
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +5 min

Executives from Volkswagen (VOWG_p.DE), BMW, and Hyundai (005380.KS) have urged U.S. legislators to give automakers operating in the United States more time to meet the required battery sourcing targets to qualify for tax incentives. CATL sees North America as a crucial market, the two people with knowledge of its planning said. But the new U.S. rules on sourcing battery materials had become a "banana peel" that have slowed the company's investment plans, one said. China, led by CATL, dominates the EV battery supply chain, producing about 70% of battery cells made globally. At the event to announce the investment, Zipse was critical of the new sourcing requirements, saying the "United States should have a regulation that is not entirely unrealistic."

☆ 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.

☆ Hyundai Motor is considering selling its Russia plant - media report
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

SEOUL, Oct 18 (Reuters) - South Korea's Hyundai Motor (005380.KS) is considering options for its suspended Russia operations that could include selling its manufacturing plant there, South Korean media reported on Tuesday. Many factories in Russia have suspended production and furloughed workers due to shortages of high-tech equipment because of sanctions and an exodus of Western manufacturers since Moscow sent armed forces into Ukraine on Feb. 24. Hyundai Motor recently submitted to management a report analysing its future prospects in Russia due to the difficult operating environment, Dong-a Ilbo newspaper said, citing an unidentified auto industry source. Register now for FREE unlimited access to Reuters.com RegisterHyundai Motor was not immediately available for comment when contacted by Reuters. Hyundai Motor suspended operations at its Russian factory in March and a regulatory filing from the company showed it sold no cars in the country in August and September.

☆ Hyundai Motor is considering sale of its Russia plant - media report
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Oct 18 (Reuters) - South Korea's Hyundai Motor (005380.KS) is considering a decision on its Russia operations that could include selling its manufacturing plant there, a local media reported on Tuesday. Hyundai Motor recently submitted to management a report analysing the situation and future prospects in Russia, Dong-a Ilbo newspaper said, citing an unidentified auto industry source. The newspaper said Hyundai's report includes the company's analyses of the scenarios and impact of the sale of the Russia plant, citing the difficult environment to conduct normal financial activities. Register now for FREE unlimited access to Reuters.com RegisterHyundai Motor was not immediately available for comment when contacted by Reuters. Many factories in Russia have suspended production and furloughed workers due to shortages of high-tech equipment because of sanctions and an exodus of Western manufacturers since Moscow sent armed forces into Ukraine on Feb. 24.

☆ Battery maker Envision AESC seeking potential investors to fund expansion-CEO
▼ + stars: | 2022-10-14 | by ( ) www.reuters.com time to read: +3 min

ZAMA, Japan, Oct 14 (Reuters) - Chinese renewable energy group Envision's battery business is seeking potential investors, as it looks to fund a planned 30-fold expansion in its battery production capacity for electric vehicles (EV), the unit's chief executive said. Envision AESC has also said it plans to supply batteries for Honda Motor Co (7267.T) and Mercedes-Benz (MBGn.DE). The company hopes to break into the top-tier EV supply rankings by leveraging its more than a decade of battery production experience. Matsumoto said the company is aiming to expand its share in the global EV battery market by roughly five times to about 15% by 2025 or 2026. Solid-state battery technology involves a high-capacity energy storage device that improves on lithium-ion batteries, replacing the liquid or gel-form electrolyte with a solid, conductive material.

☆ Nissan takes $687 mln loss as sells Russian business for 1 euro
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: +3 min

A view shows the logo of Nissan on a car in Moscow, Russia, July 6, 2016. The Japanese automaker transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia's industry and trade ministry said. The deal makes Nissan the latest major company to leave Russia since Moscow sent tens of thousands of troops into Ukraine in February. The Nissan deal was "of great significance for the industry," Russia's Industry and Trade Minister Denis Manturov said in a statement.

☆ Nissan takes $687 million loss as it sells Russian business for 1 euro
▼ + stars: | 2022-10-11 | by ( ) www.cnbc.com time to read: +2 min

The Japanese company will transfer its shares in Nissan Manufacturing Russia LLC to state-owned NAMI, it said. The deal will give Nissan the right to buy back the business within six years, Russia's industry and trade ministry said. The sale to NAMI will include Nissan's production and research facilities in St Petersburg as well as its sales and marketing center in Moscow, the ministry said. Nissan said it expected an extraordinary loss of around 100 billion yen ($687 million), but maintained its earnings forecast for the financial year ending in March. The Nissan deal was "of great significance for the industry," Russia's Industry and Trade Minister Denis Manturov said in a statement.

☆ Nissan Confirms It Is in Talks Over Investment in Renault EV Unit
▼ + stars: | 2022-10-10 | by ( River Davis | Pierre Bertrand | ) www.wsj.com time to read: 1 min

Nissan, which has been mass-producing electric cars for more than a decade, is seen as holding the upper hand in the alliance in electric-vehicle technology. TOKYO— Renault SA and Nissan Motor Co. said Monday they were discussing ways to reinforce their partnership, including the possibility of an investment by Nissan in Renault’s new electric-vehicle unit. The discussions over the possible Nissan investment are part of broader talks by the two auto makers over reorganizing their alliance, which dates back more than two decades, people with knowledge of the talks said last week.

☆ Nissan se aşteaptă la pierderi anuale de 3,23 miliarde de dolari
▼ + stars: | 2020-11-13 | by ( ) emedicina.md time to read: +3 min

Nissan Motor Co Ltd a revizuit prognoza privind pierderile operaţionale din actualul an financiar la 340 miliarde de yeni (3,23 miliarde de dolari), faţă de estimarea anterioară de 470 miliarde de yeni. Analiştii se aşteaptă pierderi de 335 miliarde de yeni, pe fondul restructurării drastice a afacerilor, transmit Kyodo şi Reuters, transmite emedicina.md cu referire la economica.net. Al treilea producător auto nipon a înregistrat în trimestrul trei din 2020 pierderi operaţionale de 4,83 miliarde de yeni, mult sub estimările analiştilor, de 80,6 miliarde de yeni, în urma declinului vânzărilor, cauzat de impactul pandemiei de coronavirus (COVID-19). În perioada similară din 2019, Nissan a raportat un profit de 30 miliarde de yeni. Renault şi Nissan au un parteneriat din 1999, în care Renault deţine 44,3% din acţiunile Nissan, în timp ce Nissan controlează un pachet de 15% din acţiunile Renault, dar nu are drepturi de vot la grupul francez.

Persons: Carlos Ghosn, Alianţa Organizations: Nissan Motor Co Ltd, Nissan, Renault, Mitsubishi Motors, Alianţa Renault, Mitsubishi, Samsung Motors, Alpine Locations: nipon, Sunderland, Barcelona, Spania, Dacia, Infiniti

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