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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

Carlos Ghosn vows to 'restore my honor' in first remarks since arrest

TOKYO — Nissan Motor's jailed ex-chairman, Carlos Ghosn, vowed to restore his good name in court after a month in detention, Japanese public broadcaster NHK said on Friday. "Things as they stand are absolutely unacceptable," Ghosn was quoted as saying via his lawyer. "I want to have my position heard and restore my honor in court." It was Ghosn's first comment since his arrest on Nov 19 for allegedly understating his income by about half over a five-year period from 2010. He was later charged with the same alleged crime covering the past three years. A call to the office of his lawyer, Motonari Otsuru, went unanswered outside business hours early on Friday. The lawyer has previously declined to return calls for comment on the Ghosn case. A Tokyo court on Thursday unexpectedly rejected prosecutors' request to extend Ghosn's detention, which Japanese media said means he could go free on bail as early as Friday. Ghosn wants to hold a news conference after he is released, NHK quoted his lawyer as saying. The executive, who formed a carmaking alliance among Nissan, Mitsubishi Motors Corp and France's Renault SA, said he is not a flight risk and wants to be able to travel abroad, the report said. The Ghosn case has put Japan's criminal justice system under international scrutiny and sparked criticism for some of its practices, including keeping suspects in detention for long periods and prohibiting defense lawyers from being present during interrogations, which can last eight hours a day. Japan has also come under fire for its 99.9 percent conviction rate. The Tokyo court unexpectedly ruled not to extend Ghosn's detention. It said it had also decided against extending detention for Greg Kelly, a former Nissan executive who was arrested along with Ghosn on Nov. 19. It later overruled an appeal by prosecutors against the decision, clearing the way for the possible release of the two men as early as Friday. The court did not disclose reasons for its decision, and NHK said it was "extremely rare" for it to reject the prosecutors' request to extend detention. If Ghosn and Kelly are granted bail, conditions may require them to apply for permission to travel overseas. They could also be barred from contacting Nissan officials. Both executives had not been able to make any public statements since their arrest, although local media have reported that they have denied wrongdoing. Ghosn was indicted on Dec.

Nissan Leaf's No Charge To Charge now available in Boston

Depending on where you buy your all-electric Nissan Leaf, there's a pretty sweet deal attached. In some parts of the US – most recently, now also in Boston, MA – new Leafs come with the "No Charge To Charge" program, which allows drivers to recharge their batteries at some public charging stations for free. Today's announcement that Boston will join the program brings the total number to 17 area, and Nissan has said it will eventually expand No Charge To Charge to at least 25 markets in the US by the end of the year. As Nissan representatives explained when the program was first announced at the 2014 New York Auto Show, there are limits on the program. Without paying, you can plug your new Leaf into a public CHAdeMO DC fast charger for a maximum of 30 minutes and just one hour at Level 2 stations. You can find a list of No Charge stations from companies like ChargePoint, Blink, AeroVironment, and NRG eVgo here. Related Video: CALLING ALL BOSTONIANS: NISSAN'S "NO CHARGE TO CHARGE" PROGRAM ARRIVES IN BEAN TOWN BOSTON (July 6, 2015) – Nissan is launching its "No Charge to Charge" promotion for Boston-area Nissan LEAF buyers, providing two years complimentary public charging with the purchase of the all-electric car from LEAF-certified dealers in the Boston market. "Nissan LEAF is an attractive option for Boston car buyers because it is fun to drive and offers significantly lower operating costs when compared to a gas-powered car," said Andrew Speaker, director, Electric Vehicle (EV) Sales & Marketing, Nissan. "EV charging infrastructure continues to grow in Boston, and access to free public charging for new LEAF buyers helps make owning an all-electric vehicle even more cost-effective and convenient." "No Charge to Charge" launches at Nissan LEAF dealers in the Boston market on July 1. The promotion includes access to fast chargers that can charge a LEAF battery pack from empty to 80 percent in about 30 minutes, as well as level 2 (240V) chargers spread throughout the Boston area. Nissan now offers "No Charge to Charge" in 17 U.S. markets, including San Francisco, Los Angeles, Sacramento, San Diego, Fresno, Seattle, Portland (Oregon), Chicago, Atlanta, Indianapolis, Nashville, Phoenix, Dallas-Ft. Worth, Houston, Denver and Washington, D.C. Nissan plans to offer the "No Charge to Charge" program at LEAF dealers in a total of at least 25 U.S. markets later this year.