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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

Recharge Wrap-up: Comparing Nissan Leaf performance by climate, natural gas iffy for trucks

A new Carnegie Mellon University study looks at the effects of regional climate variations on the Nissan Leaf. The study shows (unsurprisingly) that the ambient temperatures of different regions have effects on battery performance and the use of climate control, both of which affect range. Efficiency and grid mix determine regional differences in emissions per mile. CMU enumerated many of the differences in performance across the US. For instance, on the coldest day of the year, maximum range can be 70 miles on the Pacific Coast, while it is less than 45 miles in the Upper Midwest. These differences in efficiency can also affect adoption patterns. Read more at Green Car Congress. Battery charger manufacturer CTEK has licensed WiTricity wireless charging technology. CTEK looks to commercialize the wireless power transfer tech for use with electric vehicle batteries, making the "plug-in" aspect of EV charging unnecessary. WiTricity's charging technology stands out for its ability for distance charging via magnetic near field. "We are excited to be on the forefront of the next generation of battery charging products for consumers and industry, and look forward to leveraging WiTricity's ground-breaking technology to bring a new level of convenience and ease of use to market," says CTEK CEO Jon Lind. Wireless charging is convenient for the public, but also especially useful for emergency vehicles, which need to be ready at a moment's notice but also keep electrical systems online while the car is parked. Read more at Green Car Congress or at the WiTricity website. Switching heavy trucking fleets from diesel to natural gas could make economic sense, but the environmental benefits aren't as certain, according to a new study from UC Davis and Rice University. Certain regions - particularly California, the Great Lakes and mid-Atlantic regions - could benefit from the switch with minimal investment. "But to have an environmental advantage for reducing greenhouse gas emissions would take significant policy intervention," says Amy Myers Jaffe, executive director for Energy and Sustainability at UC Davis. This would mean stricter efficiency standards for natural gas trucks, as well as stronger regulations for methane leakage. Read more in the press release from UC Davis below.

Nissan not shuttering Leaf EV battery plants, at least not yet

The big news on the electric vehicle front today is that Nissan is considering slowing down EV battery production in the US and UK and source all of Nissan's big packs come from Japan. Nissan may also buy some batteries from the Korean company LG Chem. This is apparently causing dissent within Nissan, but it follows what Alliance partner Renault is doing in the hunt for 180-mile EVs. This change – officially denied by Nissan – raises a lot of questions here, since Nissan made a huge deal about building the Leaf pack in Tennessee a few years ago. In fact, the car's big price drop was due, in part, to localizing battery production. If the company is really going to give up on building the packs where it makes the cars, then does Nissan not see itself as being capable of producing an energy-dense battery cheap enough to compete with Tesla and its Gigafactory and GM (which, of course, has long worked with LG Chem on batteries)? Whatever Nissan decides, it needs to be ready to compete in a market that offers a $35,000, 200-mile car by 2017. "We have not taken any decision whatsoever to modify battery sourcing allocation." – Renault-Nissan's Rachel Konrad Nissan would not comment directly on the reported change, but Rachel Konrad, the Alliance's global director of communications and marketing told AutoblogGreen, "The Renault-Nissan Alliance remains 100 percent committed to its industry-leading EV program. This global commitment continues for the foreseeable future, and we have not taken any decision whatsoever to modify battery sourcing allocation. Nissan has no plans to impair its battery investments. Beyond that,we will not comment on speculation or anonymous sources, and as a matter of policy the Alliance does not confirm or deny procurement reviews." There's a point-of-view where it doesn't matter where the batteries come from if the resulting EV is competitive, price-wise. Renault CEO Carlos Ghosn, after all, said during a recent Twizy test drive that the battery is a means, and the objective is the car. In the end, Nissan is saying it has no near-term or medium-term plan to shutter plants in US or UK and CEO Carlos Ghosn says, "What's important to us is that electric car performance fully meets customer expectations." Whatever's going on, Ghosn has seen three top executives leave the Renault-Nissan family recently.