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    7201   JP3672400003

NISSAN MOTOR CO LTD

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Delayed Japan Exchange  -  05/19 02:00:00 am EDT
483.00 JPY   -3.88%
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Spain picks QEV as frontrunner for Nissan's Barcelona plant

12/29/2021 | 11:11am EDT
Man walks in front of the Nissan logo at Nissan Gallery in Yokohama

MADRID, Dec 29 (Reuters) - Spanish authorities have selected local automotive group QEV Technologies as lead candidate to take over Nissan's main plant in Barcelona after Chinese carmaker Great Wall Motor withdrew its interest, Nissan said on Wednesday.

Catalonia-based engineering group QEV plans to turn the facility into a hub for electric vehicles, including participation from Swedish producers Inzile and Volta.

Spain is rushing to find a buyer for the plant, which Nissan will vacate at the end of the year. Great Wall had been slated to take it over but pulled out this month.

A commission comprising Spanish and Catalan politicians, union representatives and Nissan executives has been meeting regularly to evaluate various proposals for the plant.

"The partipants ... have backed the general lines for the electromobility hub plan led by QEV Technologies," Nissan said in a statement. "The hub meets all the set objectives."

Further talks will focus on the concrete requirements of the plant in terms of space and assets and to determine whether other complementary projects could be included.

An alternative proposal by Belgian automaker Punch will be considered as a secondary option, Nissan said.

Negotiations to sell two smaller Nissan plants in the region to QEV and electric motorcyle maker Silence are now at a very advanced stage, the Japanese automaker said. (Reporting by Joan Faus and Nathan Allen Editing by Andrei Khalip and David Goodman )


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GREAT WALL MOTOR COMPANY LIMITED -0.80% 12.36 Delayed Quote.-53.51%
NISSAN MOTOR CO LTD -3.88% 483 Delayed Quote.-9.59%
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Financials
Sales 2022 8 673 B 67 652 M 67 652 M
Net income 2022 221 B 1 727 M 1 727 M
Net Debt 2022 5 298 B 41 324 M 41 324 M
P/E ratio 2022 8,91x
Yield 2022 0,69%
Capitalization 1 891 B 14 748 M 14 748 M
EV / Sales 2022 0,83x
EV / Sales 2023 0,74x
Nbr of Employees 131 461
Free-Float 45,7%
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Number of Analysts 18
Last Close Price 502,50 JPY
Average target price 685,88 JPY
Spread / Average Target 36,5%
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Managers and Directors
Makoto Uchida Executive President & Chief Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Yasushi Kimura Chairman
Anthony Thomas Chief Information Officer
Ashwani Gupta COO & Representative Executive Officer
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