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On March 27, Nissan Motor Co Ltd (OTC: NSANY) announced that it would invest in Renault SA (OTC: RNLSY), in particular its EV Ampere unit. Interestingly, Nissan will deepen its partnership with Renault even after the French automaker scrapped its plans. List the unit due to gloomy market conditions.
Renault plans to sell a roughly 2. 5% stake in Nissan to the 91-year-old Japanese automaker, with the deal potentially generating as much as 362 million euros ($392 million). This is the second percentage sale of Renault, which is looking to reduce its stake in Nissan from around 43% to 15%, after Renault sold a 5% stake in Nissan to Nissan in December, as part of its percentage buyback program. The deal solved the cause of the long-term friction, forcing any automakers to move forward at a time of unprecedented renewal as the industry undergoes its biggest transformation yet.
Last December, Nissan showed plans to invest around €600 million in the unit, followed by Mitsubishi which followed with €200 million. With the latest developments, Renault and Nissan are deepening their ties, with collaboration in the air in the sector as perhaps the most productive bet for those dubious times that will undoubtedly persist.
Nissan is likening a partnership with Honda.
Reuters reported that Nissan is mulling a possible partnership with its Japanese counterpart Honda Motor Co Ltd (NYSE: HMC). In a bid to combat its rivals in China, namely BYD Company Limited (OTC: BYDDY) and Tesla Inc (NASDAQ: TSLA). , Nissan is considering partnering with Honda, according to Reuters. With Honda, Nissan could gain scalability, which is key to keeping up with Tesla and BYD. In addition, Reuters reported that the partnership will also concentrate on key parts of electric vehicles. Honda has an existing collaboration with General Motors (NYSE: GM) with the goal of increasing its share of electric vehicles to power mobile vehicles to 100 percent of all sales through the end of 2040.
Nissan aims to repair the cars and leave them in their rightful position on the Arc.
Nissan established itself as an EV pioneer in the early days of EV history with its all-electric Leaf. But it’s been a long time since Nissan eclipsed rivals like Tesla and BYD, and emerging players came full steam ahead. CEO Makoto Uchida talked about the desire to turn things around as he announced the company’s new business plan, The Arc. With this new strategy, Nissan aims to achieve ambitious goals by making plans to launch 30 new styles, 16 of which will be electric by May 2027. By the end of the decade, Nissan aims to cover all segments of the EV market by launching a further 18 styles, with the goal of achieving a 60% style mix. In addition, through an investment of more than $2. 6 billion in battery development, Nissan aims to reduce the rate of next-generation electric vehicles by 30%, which would bring them into line with their gasoline counterparts by the end of the decade.
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This article comes from an unpaid external contributor. It constitutes a report by Benzinga and has been modified in content or accuracy.
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This article Nissan continues its search for the global growth of electric vehicles, published in Benzinga. com
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