Streetbeat News

NSANF

Nissan Motor Co. Ltd.

http://www.nissan.co.jp/

CEO

Makoto Uchida

Industry

Automobile Manufacturing

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Nissan Motor Co Ltd has revised its annual profit outlook downwards by 14.5%, reducing its operating profit forecast from 620 billion yen to 530 billion yen for the fiscal year ending March 31, 2024. The company also adjusted its annual revenue expectation to 12.6 trillion yen from 13 trillion yen and lowered its sales volume forecast to 3.44 million units from 3.55 million units. This revision follows a decrease in sales volume and various cost reliefs made to suppliers. Additionally, Nissan plans to introduce 30 new models by fiscal 2026, including 16 electric vehicles, aiming to boost sales and reduce the cost of EVs by 30% by 2030. Nissan shares dropped by 3.86% to $7.11 following the announcement.

Portfolio Pulse from Shivani Kumaresan

April 19, 2024 | 4:51 pm

Nissan Motor Co plans to adopt gigacasting, a technique popularized by Tesla Inc, to produce components for its electric vehicles, aiming to reduce manufacturing costs by 10% and achieve cost parity between electric and traditional vehicles by 2030. This move is part of Nissan's strategy to enhance competitiveness in the EV market. Toyota Motor Corp has also committed to adopting gigacasting, indicating its industry-wide appeal.

Portfolio Pulse from Shivani Kumaresan

April 16, 2024 | 12:06 pm

Renault SA plans to sell up to 100.24 million shares of Nissan Motor Co, representing about 2.5% of Nissan's capital. This follows a previous sale and is part of Nissan's share buyback program. Nissan will cancel all acquired shares, potentially benefiting its shareholders. The sale could result in a €362 million cash inflow for Renault, improving its financial position. RNLSY shares recently closed higher by 1.93% at $10.02.

Portfolio Pulse from Shivani Kumaresan

March 27, 2024 | 12:16 pm

Nissan Motor Co. is collaborating with Tsinghua University to conduct joint research aimed at understanding Generation Z's preferences and exploring social responsibility in the EV sector, such as battery recycling and charging stations. This partnership is part of Nissan's strategy to recover its position in the Chinese auto market, where it has lost significant market share, with sales dropping 34% from April to September compared to the previous year. Nissan plans to launch 10 new-energy vehicles in China by 2026, with the first Nissan-branded model expected next year. Additionally, Nissan and Renault SA are converting a UK facility to produce electric versions of their top-selling vehicles. The EU is investigating Chinese government subsidies to local vehicle manufacturers for potential unfair competition.

Portfolio Pulse from Benzinga Neuro

December 17, 2023 | 2:28 pm

The U.S. Office of Defects Investigation (ODI) has initiated a preliminary evaluation into approximately 454,840 Nissan vehicles due to reports of engine failures. The affected models include Nissan Rogue, Altima, and Infiniti Qx50. The investigation follows six complaints about engine failures, power loss, and unusual noises, with some cases showing metal debris in the oil pan. Nissan has made changes in the manufacturing process to address these issues. NSANY shares closed lower by 2.77% at $7.62 on Thursday.

Portfolio Pulse from Shivani Kumaresan

December 15, 2023 | 12:48 pm

Cyclone Michaung has disrupted manufacturing operations in Chennai, affecting suppliers to major tech companies like Apple, Dell, and Nokia. While most companies have resumed production, the cyclone's impact could have short-term implications for these companies' supply chains. Apple's suppliers Foxconn, Salcomp, Luxshare, and Pegatron, as well as Dell, Nokia, and Cisco, which have significant operations in the area, are particularly noteworthy. Google's expansion plans with Alphabet CEO Sundar Pichai's discussions and partnership with HP for Chromebook manufacturing in India are also highlighted.

Portfolio Pulse from Surbhi Jain

December 08, 2023 | 2:00 pm

Mitsubishi Motors plans to invest up to €200 million in Renault's EV unit Ampere. This investment is part of Mitsubishi's mid-term management plan focusing on electric vehicle development. The company is also intensifying collaboration with Alliance members Renault and Nissan as part of their commitment to the electrification acceleration phase. Mitsubishi Motors aims to improve its EV development technology and expand its EV line-up through this initiative.

Portfolio Pulse from Nabaparna Bhattacharya

October 24, 2023 | 12:43 pm

UAW workers at Volvo Group-owned Mack Trucks have joined the strike against General Motors, Ford, and Stellantis, which has already cost GM $200 million in Q3. The strike has impacted the production of small and midsize pickups, as well as SUVs. However, GM has agreed to include battery cell workers under the company’s national agreement, which could put pressure on Ford and Stellantis. Meanwhile, Worksport Ltd has signed a long-term supply agreement for its hard-folding and soft-folding covers, potentially bringing in $16 million in annual revenue. Hyundai Motor Company will be getting a customized version of Worksport's solar-powered accessories.

Portfolio Pulse from Upwallstreet

October 09, 2023 | 2:40 pm

Hollywood studios propose using AI replicas of actors. Meta Platforms' Threads app sees a decline in engagement. Citigroup, UnitedHealth, Wells Fargo, JPMorgan Chase, and BlackRock deliver strong Q2 earnings. Nokia and Ericsson shares drop after Q2 earnings. Roivant Sciences in talks with Roche for a potential $7B drug deal. WHO labels aspartame as a possible carcinogen. Microsoft and Activision Blizzard consider UK rights divestiture to appease regulators. Nissan plans to invest in Renault's EV unit. Novo Nordisk's weight-loss drug to be launched in Germany.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 2:09 pm

Nissan Motor Co., Ltd. is reportedly planning to invest approximately $725 million in Renault SA's new electric vehicle unit, Ampere. The investment is part of Nissan's plan to revamp its partnership with Renault. The total value of Ampere is expected to be between €8 billion to €10 billion, with Nissan investing less than 10% of that amount. The exact investment amount is yet to be finalized.

Portfolio Pulse from Nabaparna Bhattacharya

July 14, 2023 | 1:16 pm

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