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Nissan, Fisker in advanced talks on investment, partnership

Nissan is in advanced talks to invest in electric vehicle maker Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck while giving the struggling startup a financial lifeline, according to two people familiar with the negotiations. The deal could close this month, said the sources, who asked not to be identified because the talks are ongoing and have not been finalized. Terms being discussed include Nissan investing more than $400 million in Fisker's truck platform and building Fisker's planned Alaska pickup starting in 2026 at one of its U.S. assembly plants, one of the sources said. Nissan would build its own electric pickup on the same platform, the source said. Nissan has U.S. assembly plants in Mississippi and Tennessee. Fisker said on Thursday, when it announced it might not be able to continue as a going concern and would cut 15% of its workforce, that it was in talks with a large automaker for a potential investment and joint development partnership. It did not name the automaker. A Fisker spokesman said the company does not comment on speculation, while Nissan officials were not immediately available to comment. Fisker shares had been down about 45% before the Reuters report but pared those losses and were trading down about 25% with a market capitalization of more than $295 million. The term sheet is ready and the deal is going through due diligence, one of the sources said. Nissan was an EV pioneer with its fully battery powered Leaf hatchback in 2010 but has since struggled in the face of nimbler new entrants. A deal with Fisker would help it move into the growing U.S. electric pickup market. Nissan's talks with Fisker comes in the wake of the former's “rebalanced” relationship with its long-time alliance partner Renault. Last year, Nissan and Renault finalised terms of a restructured alliance after months of negotiations. They aim to have cross-shareholdings of 15% as part of the deal. The more limited alliance removes certain restrictions and has opened the door for Nissan to develop growth plans in areas such as EVs and software independent of Renault, said one of the sources, who is familiar with Nissan's thinking. The Yokohama-headquartered automaker is scouring “many, many opportunities,” the person said.

Nissan recalls nearly 20,000 NV vans over gearshift issue

Nissan is recalling 18,800 NV vans built between December 20, 2010 and January 4, 2013. Certain 2012 and 2013 models equipped with a steering-column-mounted transmission shift levers may have been built with improperly installed shift mechanisms.
If the NV's gear selector plate lock clip wasn't installed correctly, normal road vibration could result in a gear position indicator that does not match the actual gear selection. As a result, when the driver selects 'park,' the transmission could still be in gear or in neutral, and roll away. The National Highway Traffic Safety Administration says this condition greatly increased the risk of accident and injury.
Nissan will inspect the gear selector lock clip and replace the part if necessary free of charge. Owners can expect to be notified once the recall campaign begins on April 8, 2013. Read the full recall notice below for more information.

Nissan teases next-gen Titan in 'Truckumentary'

The Nissan Titan has grown long in the tooth over its decade on the market, especially against major competitors on the truck scene like the latest Ford F-150. Not for long, though, because the next-generation Titan is expected to debut at the upcoming auto show in Detroit in January. Ahead of that big unveiling, the Japanese brand is launching what it calls the Nissan Titan Truckumentary, a series of videos delving into what it takes to engineer a fullsize pickup. The first teaser clip is already online and shows the next-gen Titan wearing camouflage amidst engineering snippets. Hopefully, future releases starting in mid-December will give an even better look. Until now, Nissan has kept Titan development a guarded secret, but it did reveal that a 5.0-liter diesel V8 from Cummins with claims of over-300 horsepower and around 550 pound-feet of torque will be part of the powertrain range. The truck was has also been rumored to offer a wider range of models than before, including the possibility of a regular cab version and a V6 engine option. Earlier spy shots have given an even clearer view than this video, showing a pickup with headlights pushed out to the corners. Check out the video above to hear what Nissan engineers have to say about developing the new Titan, and read below for the automaker's announcement of the Truckumentary series. "Nissan Titan Truckumentary" tells story of next-generation pickup truck development NASHVILLE, Tenn. – To celebrate the launch of the next-generation Titan, Nissan will be telling the story of its upcoming full-size pickup's development via a series of short videos under the "Nissan Titan Truckumentary" banner. A teaser of this video series was issued today along with an introductory letter to the series from Nissan North America's Director of Product Planning for trucks and SUVs and Chief Product Specialist for the next-generation Titan, Rich Miller. "The 'Truckumentary' is not meant to be the all-encompassing last word on Titan," said Miller. "Rather it's the continuing story of the vehicle's evolution, accompanied by a close look at the American-based team that is bringing this all-new truck to market." The series will launch in mid-December with more than a dozen videos coming throughout the next calendar year. About Nissan North America In North America, Nissan's operations include automotive styling, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing.