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nissan says electric cars to be 10% of demand

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    All is quiet on the ORE thread. Perhaps not much more to say at this stage? Many points have been covered over the last 12 months but really the stock has never looked better, both technically and fundamentally. Glad I loaded up in the 50's on the retracement over the last few months.


    http://www.bloomberg.com/apps/news?pid=20601080&sid=aGeUbbu5L9N0

    Nissan’s Ghosn Says Electric Cars to Be 10% of Demand

    By Kae Inoue and Kiyori Ueno

    Aug. 2 (Bloomberg) -- Nissan Motor Co. Chief Executive Officer Carlos Ghosn said electric cars will make up at least 10 percent of global vehicle demand by 2020, depending on conditions.

    “Ten percent by 2020 is very reasonable,” Ghosn said, referring to research by Massachusetts Institute of Technology. Demand estimates are based on Nissan’s assessment of rising energy prices and tougher environmental regulations, Ghosn said at a news conference today after the opening of the automaker’s new headquarters in Yokohama, south of Tokyo.

    Nissan, Japan’s third-largest carmaker, today unveiled an electric car able to travel 100 miles (160 kilometers) on a full charge, saying it plans to start sales in the U.S., Europe and Japan by the end of 2010. Nissan, which spent 17 years in developing the car’s lithium-ion battery, expects the battery to help the automaker become the biggest supplier of electric vehicles.

    We are going to go for mass market,” Ghosn said. “The car will be reasonable for consumers with zero emissions, and that is just a cherry on the cake.”

    The price of the five-passenger Leaf electric car will be “competitive,” Ghosn said earlier as the company unveiled the vehicle. The price excluding battery will be about the same as that of a gasoline-powered car, he said.

    The compact Leaf is modified from the platform used for Nissan’s Tiida hatchback, sold in the U.S. as the Versa.

    To contact the reporter on this story: Kae Inoue in Tokyo at [email protected]; Kiyori Ueno in Tokyo at [email protected].
    Last Updated: August 2, 2009 01:13 EDT
 
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