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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

Nissan: With Dad

Nissan released a whopper for its 2015 Super Bowl ad, giving us a motorsports heavy ad that featured not only the eagerly awaited, front-engined GT-R-based Le Mans car, but that delivered a tantalizing look at the next-generation Nissan Maxima, a sexy, rakish sedan that shares its styling with the 2015 Murano crossover. As for the ad, it's a confusing yet touching bit about a racing dad balancing time away from his family. We'd try to interpret it, but we're too distracted by the cars. Marketing/Advertising Nissan Coupe Racing Vehicles Super Bowl Commercials Videos Sedan nissan maxima 2015 super bowl ad

Nissan dealer: 2016 Leaf will have 110-mile battery option

Leave it to a local dealer in Indiana to spill the beans about the beans about the changes to the upcoming 2016 Nissan Leaf. Maybe. There's a dealer near Indianapolis called Andy Mohr Avon Nissan near Indianapolis and its website says that the new Leaf will come with two battery packs. The dealer says that the 2016 Leaf will come with two different battery trim levels. You can choose a car with the same pack as the 2015 Leaf has (and, thus, still get 84 miles of official range) or you can opt for the higher trim level, which will give you, "as much as 25 percent increased capacity, delivering a driving range of as much as 110 miles." Now, let's take all of this with some grains of salt and combine it with previous rumors. First, this does not seem to be any sort of information about a second-gen Leaf. We've heard plenty of rumors that the 2016 Leaf will have a 30-kWh battery pack that can go over 100 miles, but this is sort of a version 1.5 Leaf, since this longer range will be available in an updated current model and not yet the next-gen model. Nissan's Paige Presley, from Nissan's EV and technology communications, said simply that she, "can't comment on future products." We spoke with Joe Kline, the internet manager at Andy Mohr Avon Nissan, and he said that it was likely that the information about the two battery packs came directly from Nissan but he wasn't 100 percent sure. Kline said that the Andy Morh Avon Nissan dealership probably sold around 10 Leafs in the past year, mostly because the infrastructure isn't as built out as it could be in central Indiana. "They're not quite up to par with the charging stations around here," he said. With the longer-range version, the dealership's website says, "the new Leaf can find a home in even more garages." Related Video: Featured Gallery 2015 Nissan Leaf View 12 Photos News Source: Andy Mohr Avon Nissan via Green Car Reports Green Rumormill Nissan Electric