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Nissan shares slide 5% after report Renault exploring stake reduction

TOKYO — Shares of Nissan Motor Co slumped 5% on Monday, their biggest fall in more than a month, following a report that top shareholder Renault may consider lowering its stake in the Japanese automaker. Bloomberg reported on Friday that Renault may consider lowering its Nissan shareholding as part of plans to separate its electric vehicle business. The French car maker has been pushing ahead with plans to split its electric and combustion-engine businesses in an attempt to catch rivals such as Tesla and Volkswagen On Friday, Renault said all options were on the table for separating the electric vehicle business, including a possible public listing in the second half of 2023. Any plans would be subject to approval from alliance partner Nissan, Renault finance chief Thierry Pieton said, adding the Japanese automaker was "in the loop" as Renault weighed up its options. Renault and Nissan have declined to comment on the report. Shares of Nissan fell to 509.8 yen in Tokyo, marking their biggest one-day decline since early March and underperforming an almost 2% drop in the Nikkei index. The car makers' two-decade-old alliance, which includes Mitsubishi Motors, was rocked by the 2018 ouster of alliance founder Carlos Ghosn amid a financial scandal. They have since pledged to pool more resources. In January they said they would work more closely together to make electric cars. They detailed a $26 billion investment plan for the next five years. But their unequal relationship has long been a source of friction in Japan. Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in its shareholder. Renault bailed out Nissan two decades ago, but is now the smaller automaker by sales. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Green Mitsubishi Nissan Renault

Before next-gen arrives, Nissan Leaf may get 120-mile battery

As Nissan prepares to unveil its next-generation Leaf electric vehicle, the Japanese automaker may come out with an "interim" version of sorts that could spur lagging sales of the model in the US. So says Automotive News, which reports from a person familiar with the process who wasn't identified that Nissan soon may start selling a Leaf with a 30-kilowatt-hour battery, up from the current 24 kWh version. It could arrive as soon as next month. Indeed, Nissan's temporary solution may be to provide range-hungry drivers with a single-charge range of 100 to 120 miles. Sure, that doesn't quite match up with the distance a gas-powered vehicle can go on a full tank, but it would be an notable upgrade from the current single-charge range of 84 miles for the Leaf. Word first got out about the Leaf possibly adding a 30-kWh battery in late May. Nissan's contending with falling Leaf sales in the US that may be caused by both the expiration of some plug-in vehicle credits as well as the prospect of a glut of used Leafs back on the market as three-year leases run out. Through the first half of the year, Nissan sold 9,816 Leaf vehicles in the US, a 23-percent drop from a year ago. Nissan CEO Carlos Ghosn said in a June 23 shareholders meeting that the company can improve battery technology enough to put an electric vehicle's single-charge range on par with the distance a conventional car can go on a full tank of gas. Related Videos:

Porsche 911 Turbo and Nissan GT-R Nismo star in World's Greatest Drag Race 4

We love Motor Trend's annual World's Greatest Drag Race video. Now back for its fourth appearance, the idea of lining some of the world's fastest cars up for a ten-wide, straight-line, full-throttle run is, well... it's pretty freaking badass.
The lineup this year boasts some impressively fast cars to be sure. The group of ten includes the following darlings: Alfa Romeo 4C, BMW i8, BMW M4, Chevrolet Camaro Z/28, Ford Fiesta ST, Jaguar F-Type R Coupe, Nissan GT-R Nismo, Porsche 911 Turbo S, Subaru WRX STI and, last but not least, the Volkswagen GTI. Give us any one of those for the weekend, and we're happy to take the keys.
It must be said though, that for a publication that draws as much water as Motor Trend does, there are some big cars that we might expect to be here instead. The Lamborghini Huracán or Ferrari 458 Speciale would have added some exotic flare to the list, and the omissions of the Chevy Corvette Stingray (for the second year in a row) and the Dodge Challenger Hellcat are real head-scratchers.