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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Nissan Motor Co., Ltd.    7201   JP3672400003

NISSAN MOTOR CO., LTD.

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Nissan Motor : pulls out of Trump emissions fight with California

12/04/2020 | 03:12pm EST

DETROIT (AP) — Nissan said Friday that it will no longer support the Trump administration in its legal fight to end California's ability to set its own auto-pollution and gas-mileage standards.

The announcement is another sign that a coalition of automakers backing the outgoing administration could fall apart. General Motors ended its support for the Trump administration's battle with California on emissions standards last week.

Nissan said it's pulling out because of confidence that discussions between the industry, California and the administration of President-elect Joe Biden “can deliver a common-sense set of national standards that increases efficiency and meets the needs of all American drivers.”

GM and Nissan were part of a coalition of 13 automakers that joined the Trump administration's legal fight. Nissan's departure leaves Toyota, Fiat Chrysler, Hyundai, Kia, Subaru, Isuzu, Suzuki, Maserati, McLaren, Aston-Martin and Ferrari in the coalition.

“We continue to support improvements in fuel economy and a framework that incentivizes advanced technologies while balancing priorities like the environment, safety, affordability and jobs,” Nissan’s statement said.

The auto industry already was split before Nissan and GM pulled out of the lawsuit. Five companies — Ford, Volkswagen, BMW, Honda and Volvo — backed California. Most automakers want one national standard so they don’t have to build two versions of each vehicle.

President Donald Trump rolled back Obama-era fuel efficiency and emissions standards, and it’s likely that the Biden administration will end the rollbacks. Trump also ended California’s unique ability to set its own pollution and efficiency standards, which is being challenged in court. Biden is likely to recognize California’s power, and replace Trump’s rollbacks with more stringent requirements.

Many automakers, including Nissan and GM, still are supporting Trump in defending the rollback of national fuel efficiency standards.

Copyright 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

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Financials
Sales 2021 7 774 B 74 816 M 74 816 M
Net income 2021 -477 899 M -4 599 M -4 599 M
Net Debt 2021 6 232 B 59 977 M 59 977 M
P/E ratio 2021 -4,37x
Yield 2021 -
Capitalization 2 084 B 20 082 M 20 061 M
EV / Sales 2021 1,07x
EV / Sales 2022 0,94x
Nbr of Employees 136 134
Free-Float 45,6%
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Mean consensus HOLD
Number of Analysts 20
Average target price 565,89 JPY
Last Close Price 532,70 JPY
Spread / Highest target 178%
Spread / Average Target 6,23%
Spread / Lowest Target -38,1%
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Managers and Directors
NameTitle
Makoto Uchida Executive President & Chief Executive Officer
Yasushi Kimura Chairman
Ashwani Gupta COO & Representative Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Anthony Thomas Chief Information Officer
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