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Nissan (NSANY) Partners With China University to Export EVs
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Nissan Motor Co., Ltd. (NSANY - Free Report) plans to export electric vehicles (“EVs”) developed in China, for which it has collaborated with Tsinghua University. Per Reuters, the partnership aims to deploy local resources to speed up research and development on electrification.
Per Masashi Matsuyama, vice president of Nissan Motor, the company is contemplating an option to export the existing internal combustion engine line-up and forthcoming electric and plug-in hybrid cars developed and manufactured in China to the global market.
The automaker plans to target the same market as its China counterparts, such as BYD, he added.
Nissan is mimicking the stance of foreign brands like Tesla, BMW and Ford, who are expanding the sales of China-developed cars to benefit from the country's lower manufacturing costs and enhance the capacity utilization of their factories.
In the first 10 months of the year, Nissan sold 2.8 million vehicles in China, which is just above a fifth of Nissan's worldwide sales, down from more than a third for the corresponding period of 2022.
This year, the Japan-based automakers have faced challenges in the China market due to the soaring popularity of local automakers and fierce price competition.
Nissan announced the launch of a joint research center with Tsinghua University next year to focus on research and development of EVs, including charging infrastructure and battery recycling.
The automaker is planning to develop 10 new-energy vehicles for China. Among those vehicles, it will develop four under its brand name and the remaining with China joint venture partners. The first model with the Nissan brand is scheduled to launch in the second half of 2024.
Nissan has cooperated with Tsinghua University on joint research for intelligent mobility and autonomous driving technology since 2016. The launch of the research center is an extension of the collaborative research effort.
The Zacks Consensus Estimate for VLVLY’s 2023 sales and earnings indicates year-over-year growth of 4.2% and 70.6%, respectively. The EPS estimate for 2023 and 2024 has increased 8 cents and 7 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for STLA’s 2023 sales and earnings suggests year-over-year growth of 12.3% and 10.5%, respectively. The EPS estimate for 2024 has increased 4 cents in the past 60 days.
The Zacks Consensus Estimate for BYDDY’s 2023 sales and earnings indicates year-over-year growth of 34.2% and 74.7%, respectively. The EPS estimate for 2023 and 2024 has increased 59 cents and 55 cents, respectively, in the past 60 days.
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Nissan (NSANY) Partners With China University to Export EVs
Nissan Motor Co., Ltd. (NSANY - Free Report) plans to export electric vehicles (“EVs”) developed in China, for which it has collaborated with Tsinghua University. Per Reuters, the partnership aims to deploy local resources to speed up research and development on electrification.
Per Masashi Matsuyama, vice president of Nissan Motor, the company is contemplating an option to export the existing internal combustion engine line-up and forthcoming electric and plug-in hybrid cars developed and manufactured in China to the global market.
The automaker plans to target the same market as its China counterparts, such as BYD, he added.
Nissan is mimicking the stance of foreign brands like Tesla, BMW and Ford, who are expanding the sales of China-developed cars to benefit from the country's lower manufacturing costs and enhance the capacity utilization of their factories.
In the first 10 months of the year, Nissan sold 2.8 million vehicles in China, which is just above a fifth of Nissan's worldwide sales, down from more than a third for the corresponding period of 2022.
This year, the Japan-based automakers have faced challenges in the China market due to the soaring popularity of local automakers and fierce price competition.
Nissan announced the launch of a joint research center with Tsinghua University next year to focus on research and development of EVs, including charging infrastructure and battery recycling.
The automaker is planning to develop 10 new-energy vehicles for China. Among those vehicles, it will develop four under its brand name and the remaining with China joint venture partners. The first model with the Nissan brand is scheduled to launch in the second half of 2024.
Nissan has cooperated with Tsinghua University on joint research for intelligent mobility and autonomous driving technology since 2016. The launch of the research center is an extension of the collaborative research effort.
Zacks Rank & Other Key Picks
NSANY currently carries a Zacks Rank #2 (Buy).
Some other top-ranked players in the auto space are Volvo (VLVLY - Free Report) , Stellantis N.V. (STLA - Free Report) and BYD Company Limited (BYDDY - Free Report) . VLVLY and STLA sport a Zacks Rank #1 (Strong Buy), and BYDDY carries Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for VLVLY’s 2023 sales and earnings indicates year-over-year growth of 4.2% and 70.6%, respectively. The EPS estimate for 2023 and 2024 has increased 8 cents and 7 cents, respectively, in the past seven days.
The Zacks Consensus Estimate for STLA’s 2023 sales and earnings suggests year-over-year growth of 12.3% and 10.5%, respectively. The EPS estimate for 2024 has increased 4 cents in the past 60 days.
The Zacks Consensus Estimate for BYDDY’s 2023 sales and earnings indicates year-over-year growth of 34.2% and 74.7%, respectively. The EPS estimate for 2023 and 2024 has increased 59 cents and 55 cents, respectively, in the past 60 days.