Nissan pursues key deal

Article Excerpt

NISSAN MOTOR (ADR) $14.09 (Nasdaq symbol NSANY; TSINetwork Rating: Above Average)(310-771-3111; www.nissan-global.com; ADRs o/s: 2.1 billion; Market cap: $28.0 billion; Dividend yield: 6.0%) and its Chinese partner Dongfeng Group are in talks with Didi Chuxing to launch a joint venture to manage car fleets for Didi’s ride-hailing and car-sharing services. The three firms are also exploring the possibility of designing and building vehicles tailored to Didi’s ride-hailing service. Those cars would likely be battery-powered and, eventually, driverless. A partnership with Didi—the country’s dominant ride-hailing firm—would also help Nissan meet China’s stringent quotas for electric vehicles and plug-in hybrids. Under the proposed deal with Dong, a small number of cars would be produced by Dongfeng’s own brand, although most would come from its joint venture with Nissan. Nissan Motor is still a buy. buy…

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