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Japanese automakers kick in $800k for new charging-station company

Cynics may say that gathering $800,000 (total) from four of Japan's largest automakers is merely a rounding error. Still, Toyota, Nissan, Honda and Mitsubishi, along with the Development Bank of Japan, are putting those funds to good use. So, that's something. Last week, those five entities officially founded Nippon Charge Service LLC. The company was established to promote plug-in vehicle charging installations across Japan and the automakers seeded it with 80 million yen, or about $786,000 US. Those funds will be used to help business owners deploy charging stations at convenience stores, highway-side locales and other locations that will make it easier for plug-in vehicle drivers (of Toyotas, Hondas, Mitsubishis and Nissans, obviously) to get their juice. The automakers first announced they'd collaborate last year, when they said they'd work with the Japanese government to more than triple the country's publicly accessible chargers to about 17,000 units. No targets were disclosed as far as how many charging stations would be deployed this time out, but, in a move similar to the EZ Charge system in the US, Nippon Charge Service will also have universally-accepted charging cards available by the end of the year to drivers all of those brands' plug-in vehicles to make the charging process a little more seamless. Check out Honda's press release below. Japan Automakers Advance Electric Charging Infrastructure with New Company, Nippon Charge Service -Established to help build charging infrastructure for electric-powered vehicles (PHVs, PHEVs and EVs)- Toyota Motor Corporation Nissan Motor Co., Ltd. Honda Motor Co., Ltd. Mitsubishi Motors Corporation Development Bank of Japan Inc. TOKYO, Japan, May 30, 2014 - Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation jointly established a new company, Nippon Charge Service, LLC, on May 26 to promote the installation of chargers for electric-powered vehicles (PHVs, PHEVs, EVs). The goal is to help build a charging network that offers more convenience to drivers in Japan. The new company will promote the installation of chargers, for the good of society and to expand the use of electric-powered vehicles. Related industries are also expected to benefit. Development Bank of Japan Inc.

Autotrader picks best cars for 2015's college grads

Summer is here and the school season is winding to a close. That means millions of students will be graduating college and (hopefully) entering the workforce. For many, that will mean buying a new car suited to the new stage in life into which they will now be embarking. That can be a bewildering choice, especially for someone who's never bought a car before. Fortunately, Autotrader has come up with a short list of recommended cars – new and used – which it recommends to the graduating class of 2015. Among the site's top choices are some compelling crossovers and hatchbacks, including the Buick Encore, Chevy Trax, and Jeep Renegade, as well as the Honda Fit, Nissan Versa Note, Mazda3 and Fiat 500. Can't stretch to buying new, or don't see the point? Autotrader has also identified the Toyota Camry, Ford Fusion and even the Lexus IS as smart buys in the certified pre-owned category. "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," says Autotrader editor Brian Moody. "For example, while that hand-me-down SUV from your parents was nice when you turned 16, you may want to opt for a safer, more fuel-efficient car as you transition into the working world." Autotrader Names 10 Best Cars for Recent College Graduates ATLANTA, May 28, 2015 /PRNewswire/ -- For many, graduating college is a milestone like no other – it represents a new chapter, a proud accomplishment and, fortunately or unfortunately, financial independence. Luckily for graduates who are in the market for a new car to suit their post-college lifestyle, Autotrader's expert editors say now is a great time to make a purchase, as dealerships are flush with affordable models that are fun, fuel-efficient and thoughtfully designed. Autotrader Logo "Any time someone goes through a major life change, such as graduating college, they need to determine if their current ride makes sense for their lifestyle, from both a financial and functional perspective," said Brian Moody, site editor for Autotrader.

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.