2003 Nissan 350z Touring Coupe 2-door 3.5l on 2040-cars

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Fisker stock trades halted as talks with Nissan collapse

Fisker's talks with a large automaker for a potential deal have collapsed, it said on Monday amid growing uncertainty for the cash-strapped startup that last week paused electric-vehicle production.  Trading in the shares of the company, which did not name the automaker with which it was in talks, has been halted pending an announcement.  Fisker also said it will not be able to meet a closing condition related to its attempt to raise up to $150 million in funding by selling convertible notes after missing an interest payment.  Separately, Fisker said it would ask investors to vote on a proposal for a reverse stock split at a shareholder meeting on April 24, as it looks to maintain compliance with the Nasdaq's listing norms.  Reuters had reported earlier this month that Nissan was in advanced talks to invest in the company, however, earlier in the day, the Japanese automaker held an event in which it announced a long-term business plan, including its EV strategy, and said it was looking for partners in the United States.  Raising funds has been hard for loss-making electric vehicle startups, which have little in way of revenue as they struggle to ramp up production and deliver to customers, as the companies battle stiff competition and a tough economy.  The EV startup's shares have cratered this year, losing more than 90% of their value, after it flagged going concern risk in February and paused investments in future projects until it secured a partnership with an automaker.  Fisker pivoted to a dealer-partner model earlier this year, after it delivered less than half of the vehicles it made in 2023 due to logistics issues.    Earnings/Financials Fisker Nissan

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs. "We must admit failures and take corrective actions," he said, adding that starting with top-level managers, the company had to break its inward-looking culture which in the past has stymied efforts to deepen cooperation with France's Renault. Uchida said improving the company's cash flow was its biggest challenge. He reiterated that Nissan's cash liquidity was good even though it had negative free cash flow of 641 billion yen in the year ended in March. Nissan declined to give any forecasts for its current financial year which started in April due to the uncertainty created by the coronavirus pandemic. It also declined to give details on how many jobs it was cutting. In what is Nissan's second recovery plan in less than a year, Uchida pledged a return to profitability with a core operating profit margin above 5% and a sustainable global market share of 6%. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4%. The automaker said on Thursday that it sold 4.9 million vehicles last year, up from an earlier estimate of 4.8 million. That was still the second decline in a row and a fall of 11% from the previous period but meant Nissan clung on to its position as Japan's second biggest carmaker, just ahead of Honda and a long way behind Toyota. Pandemic pressure Even before the spread of the novel coronavirus, Nissan's slumping profits had forced it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on the urgency to downsize.

Nissan's front-engined Le Mans car caught testing at COTA

As far as we can tell, not only is it true, it's wilder than we could have expected: not only does the Nissan LMP1 entry for Le Mans have its engine in the front, it apparently uses that combustion engine to power the front wheels while its KERS unit powers the rear wheels. Those rear wheels could be of smaller diameter than the front wheels, and total system horsepower for the racer "is a conservative 2,000 [hp]." And check out how far back that pilot is sitting. Let's start with what's been seen in person. A race team testing at the Circuit of the Americas caught the GT-R LM on track a few days ago, so Jalopnik schlepped out to the track the following day and took photos and video. There's a big ol' meaty front end where the twin-turbo Cosworth V6 lives, and that gives way to a trimmer back end. Mulsanne Corner, which has been following the car's development, figures the weight balance percentage is around 55- to 58-percent in the front through strategic placement of the KERS unit and radiators, putting it in the same division as proper mid-engined cars. A prop shaft runs from the KERS in front to the rear of the car. It's speculated that the rear wheels are smaller than the front wheels because of that narrower rear end. In some of the Jalopnik photos the rear wheels do look smaller, which could explain the complicated half-shaft and drop-gear arrangement thought to be housed back there. If all that is true this will already be the "radically different" car Nissan wanted to build. Yet there's more: Mulsanne Corner says the Nissan is targeting an ultra low drag setup, so there's a lot of talk about the car not having a rear wing, or only the hint of one, and Nissan plotting "mental" speed targets for the French track. Having the engine in front is what would offer more flexibility with the rear wing. There's a good chance we'll know what it looks like on February 1, during the Super Bowl. Nissan will air a 60-second spot, and the advance tweet with the tagline "We're Back" and a helmet promises something racey. There are more pics over at Jalopnik along with a brief video of it running at speed.