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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.

Recharge Wrap-up: Formula E's other events, continued record EV sales

Formula E wants fans to know that it is more than just a race. During each ePrix weekend, the electric race series hosts a variety of events. For each race, Formula E sets up an eVillage where fans can meet drivers and get autographs, learn about electric vehicles, spectate Formula E's School Series races, enjoy live music and dance performances, play games, eat food and take part in numerous other activities that don't make their way into the television broadcast. Or course, though, the race is always the main event. See more in the video above. Electric vehicles enjoyed a fourth straight month of record sales in February. Despite low oil prices, customers bought an estimated 7,881 EVs last month, up 13 percent from a year before. 52 percent of those sales were battery electric vehicles, while the rest were plug-in hybrids. BMW i3 sales dropped 77 percent over a year ago, selling 248 cars. The Tesla Model S and Chevrolet Volt sold the most, while the Ford Fusion Energi outsold the Nissan Leaf for the first time. The Audi A3 E-Tron sold 248 units (same as the BMW i3) despite low inventory. Read more at Inside EVs. Renault more than doubled its EV sales in January compared to a year before. Sales were up 104 percent, at 1,886 units (1,977 if you include the Twizy). This January marked higher EV sales for Renault than the three previous years. The biggest selling Renault EV, which also happened to be Europe's best selling EV, was the Renault Zoe, up 105 percent at 1,416 units sold. Read more at Inside EVs. Nissan's "No Charge to Charge" promotion has expanded to Orlando, Florida. This is the 27th market in the US to offer free charging to Nissan Leaf customers. Buyers and lessees get two years of free charging with an EZ-Charge card, which works with AeroVironment, Blink, ChargePoint, Greenlots and NRG eVgo charging networks. "Significantly lower operating costs and a fun-to-drive nature make owning the all-electric Leaf a cost-effective and convenient choice for Orlando residents," says Nissan EV Sales & Marketing Director Andrew Speaker. Read more in the press release below. Nissan's "No Charge to Charge" program increases to 27 cities in the U.S. with the addition of Orlando Free public, electric vehicle charging now offered to new Nissan LEAF buyers in the Orlando metro area ORLANDO – Nissan's "No Charge to Charge" promotion has officially arrived to the Sunshine State.

Nissan's new GT-R boss says next car will go for more volume

Since its introduction in 2008, the Nissan GT-R has seen a steady increase of power and price almost every year, but the big news for the next-gen supercar might be an increase in production. Automotive News recently spoke with newly appointed GT-R chief engineer Kinishi Tanuma who said Nissan needs "more of a volume car." Nissan has sold a little more than 2,000 GT-Rs in the US since 2012 - 1,188 last year and 952 so far this year.
Of course, a key limiting factor in the GT-R's production is its hand-built engine. Currently, only four people are qualified to build the GT-R's twin-turbo V6, but Tanuma says a fifth is in training. Even if production numbers are raised, Nissan also wants to add more quality and value into the GT-R. There is still no word as to what kind of timeframe Nissan is looking to start pumping out more GT-Rs, but with a new Nismo model rumored to be bringing a two-second 0-60 time, demand is sure to be on the rise.