Monday, August 3, 2009

Nissan Motor Turns Over a New Leaf, Going Electric - WSJ.com


Nissan Motor Turns Over a New Leaf, Going Electric - WSJ.com: "Nissan's Leaf electric car could compete with the Prius, the Insight and other hybrids. But Mr. Ghosn maintains that because electric vehicles emit no exhaust, they are distinct from hybrids and conventional vehicles.
Nissan said it plans to offer the Leaf at an affordable price, though it hasn't disclosed what that will be.
Nissan's commitment to electric cars, an initiative it first detailed in June, significantly increases the industry's stakes in developing an economically viable battery-powered vehicle. General Motors Co. and Chrysler Group LLC are also developing their own versions.
Nissan in June was granted $1.6 billion in loans by the U.S. Department of Energy and said it plans to use the funds to build the capacity to make more than 100,000 electric cars a year at its plant in Smyrna, Tenn., by 2013.
Nissan also continues to improve internal-combustion engines to use in hybrids and diesel-engine vehicles, Mr. Ghosn said. Electric cars are likely to account for just 10% of overall global vehicles by 2020, which means the rest will remain powered by conventional engines, he said.
Write to Yoshio Takahashi at yoshio.takahashi@dowjones.com"

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