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Nidec Completes Acquisition of MS-Graessner GmbH & Co. KG and Its Group Companies

FOR IMMEDIATE RELEASE

Nidec Corporation

Tokyo Stock Exchange code: 6594

Contact:

Masahiro Nagayasu

General Manager

Investor Relations

+81-75-935-6140

ir@nidec.com

Released on September 3, 2018, in Kyoto, Japan

Nidec Completes Acquisition of MS-Graessner GmbH & Co. KG and
Its Group Companies

Nidec Corporation (TSE: 6594; OTC US: NJDCY) (the “Company” or “Nidec”) today announced that the Company has acquired 100% ownership of MS-Graessner GmbH & Co. KG and its group companies (collectively “Graessner”), a privately owned German company group from its owners on August 31, 2018 (the “Transaction”) through Nidec-Shimpo GmbH which is the Germany-based affiliate of Nidec’s subsidiary, Nidec-Shimpo Corporation (“Nidec-Shimpo”). Details are as follows:

1.Outline of Graessner

(1) Company Name:
MS-Graessner GmbH & Co. KG and its group companies

(2) Headquarters:
Dettenhausen, Baden-Württemberg Germany

(3) Foundation:

1955

(4) Directors:

Michael Stadler: CEO, ..

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China’s EV Sales Grow 118% Year On Year & Fossil Sales Fall 13% — Q1 Charts!

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Published on April 10th, 2019 |

by Dr. Maximilian Holland

China’s EV Sales Grow 118% Year On Year & Fossil Sales Fall 13% — Q1 Charts!

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April 10th, 2019 by Dr. Maximilian Holland

The China passenger car association’s first quarter figures are in, and electric vehicle sales continue their rapid rise, up 118% year on year, to over 254,000. Meanwhile, fossil vehicle sales have fallen 13% year on year, to 4,823 thousand for the quarter.

Tesla Model 3 in Shanghai/Tesla.com

We know that China is full speed ahead on electric vehicles, and the first quarter 2019 figures don’t disappoint. Year-on-year growth of 118% is pretty impressive, even by Chinese standards. Here are the 2018–2019 Q1 sales of fossils and EVs compared in a chart:

click to zoom

Note that these figures are just for passenger vehicles (cars, SUVs, and MPVs). They exclude the electric buses that China is also famous for.

Fossil fuel sales continue to plummet. We saw recently that, in 2018, fossil fuel vehicle sales fell, not only in China, but also in Europe and the US. Current estimates for total global vehicle sales in 2019 are hovering around ~89 million units, down from ~95 million in 2018, according to LMC automotive.

Rapidly growing electric vehicle sales in all regions are of course a bright spot in an otherwise gloomy market, and are great news for reducing rates of pollution and climate emissions.

Let’s see how China’s EVs passenger vehicle sales so far this year compare to the sales figures of recent years:

click to zoom

Local automakers BYD and Geely are having a good year in EV sales, with shares of both companies currently buoyed by recent reports and outlook.

Tesla gained the most Q1 China EV sales of any non-local manufacturer, selling — by some back-of-the-napkin calculations (thanks Jose Pontes of EV Volumes and CleanTechnica) — likely around 10,500 Model 3s in February and March. Meanwhile, Tesla’s Shanghai Gigafactory, which will enable local production, is being built out very rapidly, with roofs already going up. Gigafactory 3, as it’s called, is expected reach the end of its major exterior construction phase in May.

Shanghai Gigafactory aerial photo by Wuwa Vision/YouTube

Ratings agency Fitch projects that China’s EV sales will have another good year in 2019 despite potential disruptions from the changes in the subsidy regime. Whilst it’s good that Fitch sees a strong outlook, rather than rely on rating agencies, take a look at our own extensive coverage of trends in the China EV market and make up your own mind. I’m still projecting 2 million EV sales in China in 2019.

About the Author

Dr. Maximilian Holland Max is an anthropologist, social theorist and international political economist, trying to ask questions and encourage critical thinking about social and environmental justice, sustainability and the human condition. He has lived and worked in Europe and Asia, and is currently based in Barcelona.

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Nidec Raises Year-end Dividend Projection for FY2018

Original Article

Nissan is said to cut global production by 15 percent

Johnny Milano | Bloomberg | Getty Images
An employee passes in front of vehicles on display for sale at a Nissan Motor Co. car dealership in Patchogue, New York, U.S., on Friday, April 27, 2018.

Nissan Motor will cut global production by about 15 percent for the current fiscal year ending March 2020, as it shifts away from the aggressive expansion campaign promoted by former Chairman Carlos Ghosn, the Nikkei newspaper reported on Friday.

That would be the steepest production cut in more than a decade by the Japanese automaker, as it battles weak sales in overseas markets including the United States where it plans to scale back sales operations, the Nikkei reported.

Nissan aims to produce about 4.6 million units in fiscal 2019, the Nikkei said, citing plans being communicated to the automaker's suppliers. The move is likely to impact earnings and could cast a pall over Nissan's alliance with French automaker Renault SA, the Nikkei reported, without elaborating.

Earlier this year, Nissan, which has been battling falling sales, lowered its operating profit forecast for the current fiscal year to 450 billion yen ($4 billion), 22 percent lower than a year earlier. It would be Nissan's lowest profit since 2013.

Nissan was not immediately available for comment when contacted by Reuters.

Shares in Nissan, mired in a financial misconduct scandal involving Ghosn and the company itself, were trading down 1.2 percent early on Friday, versus a 0.6 percent rise in the broader market.

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Financial Results (April-September 2018)

Original Article

UPDATE 1-Uber’s self-driving unit valued at $7.25 bln in new investment

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