TOKYO (Reuters) - Nissan Motor Co <7201.T> is in talks with Panasonic Corp <6752.T> and overseas companies including Chinese firms over the possible sale of its controlling stake in a car battery manufacturing venture, sources said. Two people with knowledge of the matter said on Saturday that the Japanese automaker wants to sell its 51 percent stake in Automotive Energy Supply Corporation, which makes lithium-ion batteries for electric vehicles. The company is jointly owned by NEC Corp <6701.T>. The Nikkei daily on Friday reported that Nissan was looking to sell the company because it would be cheaper to buy batteries for its electric vehicles including its Leaf model from other makers. The newspaper did not say where it obtained the information. Talk of the sale "is speculation, and is not based on any announcement by us", Nissan said in an email. Spokesmen for Panasonic and NEC declined to comment. Competition to supply batteries for electric vehicles is heating up due to expectations that a growing number of lower emission cars will be produced in the coming years. Tesla Motors , which currently procures batteries for its electric vehicles from Panasonic, is planning to boost its total vehicle production to 500,000 in 2018 - two years earlier than its original target. Nissan and Renault SA , under Carlos Ghosn, who heads both companies, have bet more heavily on electric cars than mainstream competitors. In 2009 the two companies pledged to invest 4 billion euros ($4.43 billion) to build models including the Nissan Leaf compact and as many as 500,000 batteries per year to power them. Sales of the Leaf and those of other electrical vehicles, however, have been disappointing, meaning Nissan and NEC have been unable to lower battery costs through mass production. Reuters reported in 2014 that Ghosn was preparing to cut battery production by AESC and instead use packs made by LG Chem <051910.KS>. Nissan is also in the process of selling its 41 percent stake in auto parts supplier Calsonic Kansei Corp <7248.T>, sources have told Reuters. In May, the automaker agreed to buy a 34-percent stake in Mitsubishi Motors Corp <7211.T> for about $2.2 billion as it seeks to better compete with bigger rivals such as Toyota Motor Corp <7203.T> and Volkswagen . (Reporting by Maki Shiraki, Makiko Yamazaki, Naomi Tajitsu and Tim Kelly; Editing by Sherry Jacob-Phillips, Muralikumar Anantharaman and Ed Davies)
After Suffering Second Vehicular Accident In Months, It Looks Like There's Even More Bad News For Jay Leno
After having experienced two serious accidents in the past few months, Jay Leno got some more bad news.
- The Daily Beast
Mark Richards - WPA Pool / Getty ImagesGhislaine Maxwell’s family have released a bizarre photograph of two people in a bath at her former London home with photographs of Prince Andrew and Virginia Giuffre stuck to their heads in an extraordinary attempt to discredit Giuffre.Giuffre claims that she and Prince Andrew engaged in sexual activity in the bath. Maxwell’s side says the photos show this is impossible.In fact, the somewhat insane photograph will do little to discredit Giuffre, not least
Trump’s sustained truth-stretched swing is hardly a surprise
- Patriot Ledger
The 8-month-old boy who was seriously injured inside his Duxbury home Tuesday night has died of his injuries at a Boston hospital.
- WLS – Chicago
The Illinois attorney general and Cook County state's attorney are looking into a suburban window company that is accused of ripping off its customers.
Megan Fox posted a series of shots on her Instagram Story Friday, showing off a new blonde bob and her toned figure in a tiny orange bikini
- Patriot Ledger
Two children are dead and a baby was flown to a hospital with traumatic injuries after they were discovered inside a Duxbury home Tuesday night.
Greene's amendment failed by one of the most lopsided votes you'll ever see as Democrats and Republicans alike rejected it en masse.
A tweet from the Ohio Republican received a number of scathing responses online, with another critic simply writing, "oh shut up."
Matthew Perry Has Been Honest About Drug Struggles While Filming Friends, But ‘Janice’ Actress Shares What Working With Him Was Actually Like
Maggie Wheeler, who played Janice on Friends, opens up about what it was like working with Matthew Perry amidst his struggles with addiction.
- Chiefs Wire
The #Chiefs have activated TE Jody Fortson to the 53-man roster, elevated two players from the practice squad and made two more practice squad transactions.
Nadya "Octomom" Suleman has posted a photo of her octuplets celebrating their 14th birthday.
- Fox News
Lindsay Clancy, 32, allegedly strangled her three kids before attempting suicide
- WSB Cox articles
Video of the attack shows the student getting in her teacher's face before putting her hands on her.
- The Root
We Tried To Tell Y'all About Triflin' Amy Robach. Now, She's Allegedly Playing Victim Regarding T.J. Holmes' Past [UPDATED]
Updated 1/27/23 at 1:48 p.m E.T:
- Wrestle Zone
The Bloodline has officially fractured. Following his WWE Championship and […]
- Miami Herald
While she crossed her yard, the ground beneath her suddenly opened up, according to one outlet.
Tom Brady's Divorce From Gisele Bündchen Reportedly Took a Bigger Physical Toll Than Anyone Realized
Even though it was Tom Brady’s decision to unretire from the NFL, which led to his divorce from Gisele Bündchen, don’t think for a minute that the split didn’t affect him. One sports reporter is sharing how the athlete’s personal life impacted his mental and physical health during the football season. ESPN NFL reporter Jeff […]
- BuzzFeed News
In A Chilling Interview With A Californian Radio Station, Paul Pelosi's Attacker Said He Was Sorry He Didn't Injure More People
"I messed up. What I did was really bad. I'm so sorry I didn't get more of them."View Entire Post ›
- The Daily Beast
Photo Illustration by Erin O'Flynn/The Daily Beast/Getty ImagesThis past December, the physics Nobel Prize was awarded for the experimental confirmation of a quantum phenomenon known for more than 80 years: entanglement. As envisioned by Albert Einstein and his collaborators in 1935, quantum objects can be mysteriously correlated even if they are separated by large distances. But as weird as the phenomenon appears, why is such an old idea still worth the most prestigious prize in physics?Coincid