2010 Nissan Altima 2.5 on 2040-cars

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Renault selling part of Nissan stake to partner for $824 million

Renault SA is selling around 5% of its stake in partner Nissan Motor Co., offloading the stock as part of a share buyback by the Japanese carmaker.  The move follows last month’s finalization of a plan for Renault to reduce its interest in Nissan. The stake sale is valued at around ˆ765 million ($824 million), but will result in a capital loss of ˆ1.5 billion, the French company said Tuesday.  Eventually, the two carmakers aim to equalize their cross-shareholdings at 15%, loosening the ties that kept them together in a carmaking alliance for two decades. The partnership between Nissan and Renault was jolted in 2018 by the arrest of Carlos Ghosn, chairman of both companies. Since then, they have drifted apart and are now charting separate paths. Given that NissanÂ’s shares are trading below the Tokyo Stock ExchangeÂ’s guideline of maintaining a price-to-book ratio above 1, the buyback will “help improve the situation,” said Bloomberg Intelligence analyst Tatsuo Yoshida. The cash will bolster Chief Executive Officer Luca de MeoÂ’s efforts to get Ampere, RenaultÂ’s electric-vehicle and software arm, going as he seeks to split off the unit and list it as a separate public entity as soon as April or May. Nissan has also agreed to invest in Ampere. Renault transferred its 28.4% stake in Nissan into a trust in early November to pave the way for a reduction of its holding. Even so, there will still be lock-up and standstill obligations. De Meo said last month that Renault would begin offloading the stake “very soon” in early 2024, so TuesdayÂ’s announcement was slightly earlier than anticipated. For Nissan, the buyback is well within the value of cash and equivalents, which stood at JPY1.6 trillion ($11 billion) yen at the end of September. Nissan said it will cancel all acquired shares.  “ItÂ’s good news for the stock that Nissan will retire the equivalent of 5% of its outstanding shares,” Yoshida said.  The Japanese carmaker is paying JPY568.5 for each share, the price at the close of trading in Tokyo on Tuesday. While NissanÂ’s stock has climbed 36% this year, itÂ’s at roughly half of its value from early 2017. Earnings/Financials Nissan Renault

Recharge Wrap-up: Nissan Leaf brake investigation, EV market will grow in China

Electric vehicles are expected to significantly cut into the gasoline-powered vehicle market in China. According to analysts at Frost & Sullivan, gas vehicles will drop to 94.9 percent of the market, while EVs will reach 4.2 percent by 2020. China's EV incentives, as well as a push in technology innovations, are credited for the rising popularity of plug-in cars. Despite awareness issues and supply shortages holding EVs back, "the Chinese powertrain market will remain buoyant, with increased customer purchasing power and self-esteem needs triggering vehicle sales," according to Frost & Sullivan researcher Ming Lih Chan. The big winners in this equation will be the suppliers of EV components in China. Read more in the press release below. The Canadian government is investigating possible brake failure issues with the Nissan Leaf. The Transport Canada investigation will look at 2013 to 2015 models, which could be experiencing brake malfunctions in severe cold weather. In the US, drivers have reported problems such as aggressive response to driver input and jerky braking, with some problems going away when the weather got warmer. NHTSA hasn't begun an investigation of its own, so far. Read more at Hybrid Cars. Sunspeed Enterprises has started an Indiegogo campaign to fund the installation of EV chargers along the Pacific Coast Sun Trail. As part of creating a 700-mile network of EV Infrastructure along the Pacific Coast Highway, this particular campaign is helping pay for a charging hub powered by renewable energy at the Madonna Inn in San Luis Obispo, California. Donors will receive rewards such as shirts and mugs, as well as charging credits and discounts. At the highest level, a $10,000 donation will net the donor free charging for life at any Sunspeed charging hub. Learn more at Indiegogo. Featured Gallery 2013 Nissan Leaf View 55 Photos News Source: Frost & Sullivan, Hybrid Cars, Transport Canada, Indiegogo Green Recalls Nissan Safety Electric recharge wrapup

Fast & Furious Nissan 350Z offered for big money

Fans of the Fast & Furious film franchise will want to check out this latest listing. It may be located all the way over the pond in the UK, but it could be worth the trouble for the rare privilege of owning one of the stars of Tokyo Drift. It just won't come cheap. The vehicle in question is a 2002 Nissan 350Z tuned by Veilside for use in the third F&F film. It's got a Version 3 widebody kit and twin APS turbochargers that bring output up to 430 horsepower and 420 pound-feet of torque. All that muscle is handled by a Nismo two-way differential and twin-plate clutch. It's got a roll cage, NOS tank, center-lock modular alloys, racing buckets... the works. It's the car that Takashi drove in the movie, and was imported to the UK by its current owner. With 9,800 miles on the odometer, it's currently listed at Cheshire Classic Cars for a hair under GBP150,000 – or about $235k at current exchange rates. Now if that strikes you as quite a handsome sum, you may be right - especially considering that the Toyota Supra from the first movie just sold a few months ago for $185k. That's a hefty $50,000 difference, which could account for a pretty sweet garage to display it in or a whole lot of extra tires after you smoke these ones bald. True, the pink Supra it may not have aged as well as this sinister-looking black Datsun, but then that Toyota is the one that the late star of the franchise Paul Walker drove himself. So as far as investments go, Walker's Supra is bound to appreciate in value better than the Drift King's Z. Related Video: