Nissan builds a China EV

Article Excerpt

NISSAN MOTOR (ADR) $19.41 (Nasdaq symbol NSANY; TSINetwork Rating: Above Average) (310-771-3111; www.nissan-global.com; ADRs outstanding: 2.1 billion; Market cap: $40.4 billion; Dividend yield: 3.0%) is Japan’s second-largest automaker, after Toyota Motor and ahead of Honda. The company has started manufacturing its first electric sedan, Sylphy Zero Emission, for the Chinese market. The electric vehicle (EV) is based on the Nissan Leaf and will be produced by the company and its Chinese partner, DongFeng Motor Group Co., Ltd. In order to curb worsening air pollution, China is encouraging car buyers to opt for EVs. At the same time, it has made it tougher for automakers by implementing stricter emission standards. In addition, automakers must ensure new-energy vehicles represent a specific percentage of overall sales, starting next year. Nissan is a buy. buy…