Tag: Nissan

  • Canada Stops EV Incentives as Funding Runs Out

    Canada Stops EV Incentives as Funding Runs Out

    Automobile buyers and sellers in Canada are feeling the impact of the unexpected termination of the federal EV rebate program. As reported by Transport Canada, the Incentives for Zero Emissions Vehicles (iZEV) initiative is closing down because it has run out of allocated funds.

    Details of the iZEV Program

    The iZEV program provided EV purchasers with a $5,000 rebate when they bought or leased eligible vehicles. This program was distinct from provincial incentives and supported 546,000 vehicles throughout its duration.

    Initially, Canada’s EV incentive plan was scheduled to continue until March 31, 2025. However, Transport Canada has indicated that the allocated funds were exhausted more quickly than anticipated, largely due to a rapid increase in EV adoption. As of now, there is no word on whether the program might be reinstated in the future.

    Help from Automakers

    In response to this surprising news, several EV manufacturers are stepping in to assist buyers. Companies like Ford, General Motors, Hyundai, and Nissan are providing a $5,000 discount, though this offer is only temporary.

    Canada has set a goal that 20 percent of new passenger vehicle sales must be ZEVs by 2030, increasing to a full 100 percent by 2035. For perspective, approximately 1.86 million new cars were sold in the country in 2024.

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  • Honda and Nissan Plan Merger: What You Need to Know

    Honda and Nissan Plan Merger: What You Need to Know

    Honda and Nissan have recently revealed that they, along with Mitsubishi Motors, have signed a memorandum of understanding showing their interest in merging the three companies. This collaboration will be overseen by a joint holding company. By merging, these automakers aim to combine their resources and share technologies and manufacturing capabilities, positioning themselves better against their rivals.

    Industry Changes

    According to the official press release, these discussions come amid significant transformations in the automotive sector. The companies mentioned the shift towards electric vehicles and the increasing trend of direct sales rather than going through independent dealers. Mitsubishi plans to make a decision by the end of January 2025 about its involvement in the talks. Meanwhile, Honda and Nissan are optimistic about the potential synergies that could arise from their merger, believing it would help them reach a wider audience.

    Future Plans

    The goal is to complete the merger agreement by June 2025 and finalize the contract by August 2026. Initially, Honda will take the lead in managing the joint venture, which isn’t surprising as Honda’s market capitalization is more than four times that of Nissan. The joint venture is projected to have a market value exceeding $52 billion, positioning it just behind Toyota and VW in global sales. However, Carlos Ghosn, the former CEO of Nissan, has expressed skepticism about the merger, telling Bloomberg that it appears to be an “act of desperation” for Nissan, as finding synergies between Honda and Nissan could be quite challenging. Currently, Nissan is facing significant declines in profits, leading to numerous layoffs.

    Source: Link

  • ‘Nissan’s Juke, Qashqai, and Leaf Embrace Electric Future with Bold ‘Hyper’ Design Influence’

    ‘Nissan’s Juke, Qashqai, and Leaf Embrace Electric Future with Bold ‘Hyper’ Design Influence’

    Nissan is making a significant move towards electrifying its vehicle lineup, with a major focus on updating popular models like the Juke and Qashqai, alongside the next generation of the Leaf. This transformation is taking place at Nissan’s Sunderland plant in the UK, a key hub for its electric vehicle (EV) production. What’s intriguing about this plan is the infusion of up to £3 billion (about $3.75 billion) into this project, indicating Nissan’s commitment to electric mobility.

    Drawing Inspiration from Concept Cars

    A unique aspect of this development is the inspiration Nissan is drawing from its ‘Hyper’ series of concept cars. These concepts, showcased at the Japan Mobility Show, are set to shape the design of the new electric versions of the Juke and Qashqai. The Hyper Urban Concept will influence the Qashqai EV, and the Hyper Punk Concept will guide the design of the Juke EV. This approach signifies a fusion of cutting-edge design with practical EV technology.

    Boosting Production Capacity and Infrastructure

    The investment will also boost the production capacity and infrastructure at the Sunderland plant. This includes the establishment of three battery gigafactories in partnership with Envision AESC, highlighting the importance of sustainable and efficient battery production in the EV ecosystem.

    Commitment to Renewable Energy

    Another key aspect of Nissan’s plan is its commitment to renewable energy. The EV36Zero Microgrid will supply 100% renewable electricity for the production of these EVs and their batteries, showcasing Nissan’s dedication to eco-friendly manufacturing processes.

    Overall, Nissan’s move towards electrification and its investment in the Sunderland plant demonstrate the company's dedication to electric mobility and sustainable manufacturing practices. By drawing inspiration from its concept cars and partnering with Envision AESC for battery production, Nissan is positioning itself as a leader in the EV market. The use of renewable energy further solidifies its commitment to reducing its carbon footprint and creating a greener future. With these advancements, Nissan is set to make a significant impact on the automotive industry and pave the way for a more sustainable transportation sector.