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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

Weekly Recap: The cost of Tesla's ambitious plans for growth

Tesla has ambitious plans for growth, and they won't come cheap. The electric-car maker said this week it plans to spend $1.5 billion in 2015 to expand production capacity, launch the Model X crossover and continue work on its Gigafactory, which is being built outside of Reno, NV. The company is also investing in its stores, service centers and charging network, which is expected to grow by more than 50 percent this year. Plus, it's still working on the Model 3, which is scheduled to arrive in 2017. "We're going to spend staggering amounts of money on [capital expenditures]," Tesla chairman and CEO Elon Musk said on an investor call. He then added: "For a good reason. And with a great ROI [return on investment]." They're bold plans, and Musk is clearly willing to put Tesla's money where his mouth is. That's why the company is projecting a whopping 70-percent increase in deliveries this year, for a total of 55,000 cars. A large chunk of that growth will come from the addition of the Model X crossover to Tesla's portfolio, and the company already has nearly 20,000 reservations for it. More than 30 Model X prototypes have been built, and it is expected to begin shipping to customers this summer. Musk said he's "highly confident" the vehicle, which has experienced delays, will arrive on time. The company also had more than 10,000 orders for the Model S at the start of the year. The big spending plans caused a stir, even though Tesla spent $369 million on capital expenditures in the fourth quarter alone. In a note to investors, Morgan Stanley analysts called the costs required to keep pace with Tesla's demand "eye-wateringly high," and said the $1.5-billion figure was nearly double their expectations. Still, Musk is not thinking small and suggested that his company could be as big in 10 years as Apple is now if Tesla's growth continues. His optimism comes as the company actually reported a $294-million net loss in 2014, more than its $74-million loss in 2013. The money, however, continues to roll in, and total revenues increased to $3.2 billion in 2014, up from $2 billion in 2013 and a dramatic surge from $413 million in 2012. More of the same is expected this year, and the company could reach $6 billion in revenue. As Morgan Stanley noted, it "seems Tesla is preparing to be a much larger company than we have forecasted." It's certainly spending that way.

EZ-Charge program will get rolled out for all vehicles [UPDATE]

UPDATE: It appears that Chargepoint has pulled out of the program. It looks like a myriad of vehicles will be eligible for the single-card recharging program under NRG Energy's NRG eVgo division. The EZ-Charge platform that Nissan said last month would allow Leaf owners to use multiple vehicle recharging networks with a single card will soon be offered to other plug-in vehicles. eVgo will start sending out EZ-Charge cards this summer to various markets in Northern and Southern California and Texas as well as the Pacific Northwest, Phoenix, Nashville and Washington, DC. EZ-Charge uses a single card that is good for eVgo stations as well as stations within the ChargePoint, Blink and AeroVironment networks. It will debut in 10 EZ-Charge markets on July 1. By mid-2015, 15 more markets will be added. Nissan announced the 'No Charge to Charge' program last month at the New York Auto Show. Nissan said at the time that Leaf buyers would get two years of free charging, but individual charging sessions were limited to 30 minutes at CHAdeMO stations and an hour at the more-common Level 2 stations. The automaker also estimated that the 25 markets included by next year account for more than 80 percent of US Leaf sales. Take a look at NRG's press release below. NRG eVgo Introduces New Convenience to Electric Vehicle Charging First-of-Its-Kind EZ-Charge All-Access Card gives EV drivers convenience to use chargers from multiple charging providers PRINCETON, N.J.--(BUSINESS WIRE)--This summer, NRG eVgo, a subsidiary of NRG Energy, Inc. (NYSE:NRG), will roll out the EZ-Charge (SM) platform, a first-of-its-kind initiative that will offer electric vehicle (EV) drivers the ability to access multiple EV charging networks with a single all-access card. "For too long, EV drivers have been limited to only the chargers that were in their network meaning they might drive past a number of charging stations in other company's networks before they could get to one they could use with their current provider" The EZ-Charge platform will enable drivers of any electric car make or model to carry a single access card for charging on multiple networks, much like consumers today carry a single credit card to access multiple retailers.