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Renault selling part of Nissan stake to partner for $824 million

Renault SA is selling around 5% of its stake in partner Nissan Motor Co., offloading the stock as part of a share buyback by the Japanese carmaker.  The move follows last month’s finalization of a plan for Renault to reduce its interest in Nissan. The stake sale is valued at around ˆ765 million ($824 million), but will result in a capital loss of ˆ1.5 billion, the French company said Tuesday.  Eventually, the two carmakers aim to equalize their cross-shareholdings at 15%, loosening the ties that kept them together in a carmaking alliance for two decades. The partnership between Nissan and Renault was jolted in 2018 by the arrest of Carlos Ghosn, chairman of both companies. Since then, they have drifted apart and are now charting separate paths. Given that NissanÂ’s shares are trading below the Tokyo Stock ExchangeÂ’s guideline of maintaining a price-to-book ratio above 1, the buyback will “help improve the situation,” said Bloomberg Intelligence analyst Tatsuo Yoshida. The cash will bolster Chief Executive Officer Luca de MeoÂ’s efforts to get Ampere, RenaultÂ’s electric-vehicle and software arm, going as he seeks to split off the unit and list it as a separate public entity as soon as April or May. Nissan has also agreed to invest in Ampere. Renault transferred its 28.4% stake in Nissan into a trust in early November to pave the way for a reduction of its holding. Even so, there will still be lock-up and standstill obligations. De Meo said last month that Renault would begin offloading the stake “very soon” in early 2024, so TuesdayÂ’s announcement was slightly earlier than anticipated. For Nissan, the buyback is well within the value of cash and equivalents, which stood at JPY1.6 trillion ($11 billion) yen at the end of September. Nissan said it will cancel all acquired shares.  “ItÂ’s good news for the stock that Nissan will retire the equivalent of 5% of its outstanding shares,” Yoshida said.  The Japanese carmaker is paying JPY568.5 for each share, the price at the close of trading in Tokyo on Tuesday. While NissanÂ’s stock has climbed 36% this year, itÂ’s at roughly half of its value from early 2017. Earnings/Financials Nissan Renault

This map reveals the cleanest vehicles based on location

Naysayers love to point out how dirty the electricity grid mix is when it comes to charging electric vehicles. Curmudgeons are eager to jump into any conversation about EVs to enlighten the lucky listeners about how plug-in cars contribute to pollution, sometimes even throwing in a dash of climate-change denial for good measure. (Thanks, buddy. Pray, tell me more about the plight of oppressed SUV owners.) Unless someone buys an EV just because they think they're cool (which, yeah, they often are), they probably have at least a passable understanding of their environmental pros and cons. As many EV owners are already aware, location has a lot to do with any particular plug-in car's carbon footprint. Still, there's always more to know, and knowledge is not a bad thing, especially if one uses it to do the right thing. That's why this handy-dandy map from Carnegie Mellon University is so interesting. CMU researchers have compiled information about the lifecycle greenhouse gas emissions of various EVs based on where they're charged, as compared to gasoline-powered vehicles. The researchers looked at the Nissan Leaf, Chevrolet Volt, and Prius Plug-In Hybrid versus the gasoline-dependent Toyota Prius hybrid and the stop-start-equipped Mazda3 with i-ELOOP and compared grams of CO2 emitted per mile. CMU takes into account the grid mix, ambient temperature, and driving patterns. CMU takes into account the grid mix based on county, as well as ambient temperature and driving patterns in terms of miles traveled on the highway or in the city. For instance, if you drive a Nissan Leaf in urban areas of California, Texas, or Florida, your carbon footprint is lower than it would be if you were driving a standard Toyota Prius. However, if you charge your Leaf in the Midwest or the South, for the most part, you've got a larger carbon footprint than the Prius. If you live in the rural Midwest, you'd probably even be better off driving a Mazda3. Throughout the country, the Chevrolet Volt has a larger carbon footprint than the Toyota Prius, but a smaller one than the Mazda3 in a lot of urban counties in the US. The Prius and Prius Plug-In are relatively equal across the US. Having trouble keeping it straight? That's not surprising. The comparisons between plug-in and gasoline vehicles are much more nuanced than the loudest voices usually let on.

New Nissan Pulsar marks brand's return to the European C-segment [w/videos]

Following a small teaser, Nissan has unveiled its newest entry into the hotly contested European C-segment. Making new use of the Pulsar nameplate, it will attempt to take the fight to market stalwarts, like the Ford Focus, Volkswagen Golf and Vauxhall Astra.
The new five-door will be built on Nissan's modular CMF2 architecture, which also underpins the Euro-spec Qashqai and X-Trail (known in the US as the Rogue). It's a larger vehicle than one of its main challengers, the Golf, riding on a 106.3-inch wheelbase, which is 2.4 inches longer than the VW. It's also longer overall, at 172.6 inches.
The new Pulsar is a moderately powered little five-door, boasting an engine lineup familiar to anyone that knows the Qashqai. A 1.2-liter, turbocharged gas engine offers up 113 horsepower, while those that need a bit more oomph can wait for the late-availability, 187-hp, 1.6-liter turbo that American drivers will know from the Juke crossover. Diesel fans will be able to opt for a 1.5-liter mill that delivers 192 pound-feet of torque and 108 hp. No surprise here, but continuously variable transmissions are the order of the day.