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Nissan reports $4.13B net income for 2012

The news for Nissan is good when it comes to the company's results for the 2012 financial year that ended on March 31. Even though the numbers were down in many of the world's major markets, increased sales in the US, Brazil and the Middle East, ten new models and a strong fourth quarter allowed Nissan to hit its target for the year and notch record sales of 4.914 million units globally. On net revenue of $116 billion, Nissan posted net income of $4.13 billion and an operating profit of $6.31 billion.
There are upward-looking projections for this year, Nissan forecasting a 7.8-percent jump in sales to 5.3 million units, with $117.89 billion in net revenue and $4.42 billion in net income. That net revenue number probably won't actually match what's reported next year, though, because Nissan is changing its accounting method and won't include revenue and operating profit results from its joint venture with China's Dongfeng. Net income doesn't change under the new method, but the adjusted net revenue forecast is $109.16 billion.
There's a press release and two videos below with more details for those of you who go gaga for annual reports.

Recharge Wrap-up: Chevy teases Bolt driving range, China pursues EV subsidy cheaters

Chevy is teasing the Bolt's driving range, which it is set to reveal on Tuesday. It will certainly be able to travel more than 200 miles between charges, but the second and third digits in that value, as it stands today, are still question marks. On its Facebook page, Chevrolet is asking fans to try to guess the official range. Of course, Tesla fans have already started posting their own snide remarks in the comments. Chevy fans are certainly hoping to see the Bolt's range eclipse that of Tesla's upcoming Model 3, which the California-based automaker puts at 215 miles. See Chevy's post on Facebook to make your own guess, or check back there (or here at AutoblogGreen) for the official number once it is unveiled. Fuel cell company PowerCell Sweden says it has signed an agreement with a Chinese company to make range extenders for commercial trucks. The unnamed Chinese customer has placed an order and signed a memorandum of understanding with PowerCell Sweden, and the partners will develop methanol reformer fuel cell range extenders for electric distribution trucks. "Our unique expertise in fuel cells and reformer technology is receiving an increasing attention worldwide and we are truly pleased to get another Chinese order," says PowerCell Sweden Sales Director Andreas Boden. Read more at Green Car Congress, or from PowerCell. China is accusing major automakers of violating EV subsidy rules. After the country's Ministry of Finance penalized five companies with fines and, in one case, revocation of production license for subsidy cheats, China has since named 20 more potential violators, including Nissan, Hyundai, JAC, and a subsidiary of BYD. Of the first five companies to be punished under the investigation, Suzhou Gemsea Coach Manufacturing is having its production license revoked, while four others, including a subsidiary of Chery, are being fined for about half of the subsidies received. The scandal is bad new for China's subsidy program, which has helped spur sales of plug-in vehicles. Read more from Fortune, or at Hybrid Cars.

UK electric motor maker YASA expands production 50-fold for EVs

LONDON — British electric motor manufacturer YASA said on Thursday it was increasing its production capacity from 2,000 to 100,000 units with a new factory to tap into growing demand from carmakers for greener technologies. Automakers are racing to build greener vehicles and improve charge times in a bid to meet rising customer demand and air quality targets but Britain lacks sufficient manufacturing capacity, an area the government is building up. Last year, the government picked a site in central England to house a new automotive battery development facility, which will develop the processes required to manufacture the latest battery advancements. On Thursday, YASA, based near the English city of Oxford, said it had raised another 15 million pounds ($21 million) as part of its expansion. "Our customers are looking to adopt innovative new technologies such as YASA's axial-flux electric motors and controllers in order to meet the needs of the rapidly expanding hybrid and pure electric automotive market," said Chief Executive Chris Harris. The firm exports 80 percent of production and has worked with companies including Britain's two biggest carmakers Jaguar Land Rover and Nissan as well as Aston Martin. JLR will decide this year whether to build electric cars in its home market, previously citing factors such as pilot testing and support from science and government as pre-requisites. Reporting by Costas PitasRelated Video: