Christian Meunier has been named chairman, Nissan Americas, effective 1 January 2025. He replaces Jérémie Papin who has been appointed chief financial officer (CFO), Nissan Motor Co., Ltd. As chairman for Nissan Americas, Meunier will lead operations and strategy across all of North and South America as part of the company’s global business plan, The Arc. He will report to Guillaume Cartier, chief performance officer (CPO), Nissan Motor Co, Ltd. It’s the latest move at the struggling automaker whose, well, Arc is sinking.*
At the beginning of November Nissan Motor Company in Japan announced weak financial results for the six-months ended 30 September 2024. Net revenue decreased by ¥79.1 billion year-over-year (YOY) to ¥5.98 trillion yen, with consolidated operating profit decreasing ¥303.8 billion to ¥32.9B. This was a paltry operating profit margin of 0.5%. Net income was ¥19.2 billion. Global sales volumes decreased year-on-year to 1.6 million units. As a consequence Nissan revised its full year financial outlook for fiscal year 2024. The dividend was cancelled. Continue reading
Technical Tidbits – Porsche 1900 Wheel-Hub Motor
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“Almost 125 years ago, Ferdinand Porsche was involved in the development of an electric vehicle. It was powered by a wheel-hub motor,” Porsche said in a release today.
“It’s April 14, 1900, and a groundbreaking electric car, based on the Lohner-Porsche system, is celebrating its premiere at the Paris Exposition’s Palace of Electricity. It’s the innovative drive concept that brings widespread recognition of the Porsche name,” Porsche said. Continue reading →