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Nissan-Dongfeng's Leaf-based Venucia e30 EV goes on sale in China

Nissan's proverbial other shoe has dropped on the other side of the world. The Japanese automaker, along with Chinese company Dongfeng, has started selling the Venucia e30 battery-electric vehicle in the world's most populous country. How the sister vehicle to the Nissan Leaf will fare remains to be seen, but it's a pretty big bet. The companies certainly tested the model enough, very quietly running 300 trial vehicles a combined three million miles on China's roads. The result is a vehicle the companies say reduces operating costs by about 85 percent relative to gas-powered vehicles and can go 35 miles on a five-minute quick-charge. In China, the Venucia e30 retails for about $44,000, though that's before government incentives kick in. The car will debut with sales in Beijing, Shanghai, Guangzhou, Shenzhen, Dalian, Wuhan, Tianjin, Zhengzhou and Hangzhou. The rest of the country gets access to the model next year. Nissan and its Chinese partner are probably hoping for the kind of success Nissan's has finally started to have with the Leaf in the US recently. Last month, Nissan moved 3,186 Leaf vehicles Stateside, a monthly record. Year-to-date US sales of the Leaf are up 34 percent from last year to 18,841 units. You can find more info on the e30 in Nissan's press release below. DONGFENG NISSAN LAUNCHES ITS FIRST ALL-ELECTRIC VEHICLE - Venucia `e30' offers trusted, affordable, pure EV experience for Chinese consumers - SHANGHAI, China (September 10, 2014) - Dongfeng Nissan Passenger Vehicle Company (DFL-PV) today launches its first pure-electric vehicle model, "e30," from its local Venucia brand. With a five million kilometer pilot run across China completed prior to launch, e30 is trusted to bring Chinese consumers an enjoyable EV experience at affordable running costs. Its starting price is set at RMB 267,800 Venucia e30 Jun Seki, President of Dongfeng Motor Co., Ltd. (DFL), Nissan's joint venture with Dongfeng Motor Group Co., Ltd., said, "With Nissan Global's advanced technology, sales experience and know-how of electric vehicle, the Venucia e30 has been locally developed through our careful studies about market situations and consumer needs in China. I am looking forward to seeing the Venucia e30 lead China's electric-vehicle market into the future and also to more development of new energy vehicles and the wide adoption of electric vehicles in China." e30 achieves an optimal balance between driving range, affordability and convenient charging.

Nissan CEO Saikawa admits he was overpaid, in policy violation

TOKYO — Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct. Saikawa apologized and vowed to return any improperly paid money as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era." "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken. The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public. Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added. Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker. Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March. He denies any wrongdoing and says he is the victim of a boardroom coup. Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA.

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