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Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan

Nissan details 326k-vehicle Takata recall for US and Canada

Nissan is recalling 326,000 vehicles in the US and Canada as an expansion of its Takata inflator campaign. Of those, 263,692 are in the US. Nissan's broadened campaign in the US covers 250,967 examples of the 2004-2006 Sentra and 12,725 units of the 2004 Pathfinder to replace their passenger side airbag inflators. The 2005-2006 X-Trail is also included in Canada. Customers should receive official notification of this recall by mail in June. Nissan and Toyota announced a 6.5-million vehicle global expansion of their Takata recalls recently. At that time, Nissan was still working with the National Highway Traffic Safety Administration on the details of what models were affected. This latest release outlines those figures. Related Video: Nissan Statement "Nissan Group today notified The National Highway Traffic Safety Administration (NHTSA) and Transport Canada that it will be recalling 2004 to 2006 Sentra, 2004 Pathfinder and 2005 and 2006 X-Trail vehicles throughout the United States and Canada to replace Takata SPI Passenger Air Bag inflators. This recall expansion is intended to address vehicles equipped with SPI inflators that are not already subject to previously announced recalls. More specifically, this includes vehicles located outside the high absolute humidity areas manufactured between early 2004 and end of production. Customer notification will begin in June." Vehicles Affected Approximately 326,000 in U.S. and Canada Market Model Model Year(s) Population Total USA Sentra 2004-2006 250,967 USA Pathfinder 2004 12,725

Nissan happy with plug-in vehicles for now, will wait on hydrogen

Anyone who's driven the Nissan Leaf knows that it won't set any land speed records. Still, ask Nissan Vice Chairman Toshiyuki Shiga, and the battery-electric vehicle will be miles ahead of any hydrogen fuel-cell vehicles for the foreseeable future in Nissan's advanced-powertrain plans. Figuratively, of course. Shiga, speaking in Singapore, elaborated on Nissan's interest in developing a production hydrogen fuel-cell vehicle, and, to put it bluntly, he said the company didn't have much interest, the Japan Times reports. Sure, Nissan reached an agreement with Mercedes-Benz parent Daimler and Ford early last year to work together to speed up fuel-cell-vehicle powertrain development. Like Toyota, Honda and Hyundai, the automakers appear to be following the axiom that hydrogen fuel-cell technology is the best-of-all-worlds option for advanced powertrain because of the combination of zero emissions and conventional-vehicle-like full-tank range. Still, the prohibitively high cost of building hydrogen refueling stations will prevent any substantial adoption anytime soon, Shiga says, hence Nissan's focus on battery-electric vehicles. Nissan sells the all-electric Leaf in about 40 countries, and the model is the best-selling battery-electric vehicle in the world. In the US, Nissan sold 24,411 Leaf vehicles through October, up 35 percent from a year earlier.