Nissan says Leaf production coming to US

The all-electric competitor to the Toyota Prius and GM Volt hybrids will be made in Tennessee.

By TheStreet Staff Apr 20, 2011 1:21PM

By Ted Reed, TheStreet

 

Kicking off the New York Auto Show, Nissan's top U.S. executive said the automaker plans to boost its U.S. production, including adding Leaf production in Smyrna, Tenn., by the end of 2012.

 

Carlos Tavares, the chairman of Nissan Americas, said the primary cause of the move is the strong yen, which has inspired a desire to ensure that a product "sold in the regions (is) 85% made in the region."

 

"That's the driver," Tavares said. He added that the earthquake and tsunami in Japan underscored the need for higher U.S. production, although all Nissan's Japan plants are now operating.

 

Production of the Nissan Rogue will move to Smyrna from Japan. The new Infiniti JX seven-passenger car will be built in Smyrna. Nissan will also build a Smyrna battery plant to provide batteries for the Leaf. The automaker will also continue to build the Leaf in Japan.

Meanwhile, production of the Xterra SUV and the Frontier pickup will move from Smyrna to Canton, Miss.

 

In his keynote address, Tavares focused on the increasing availability of the Leaf, which uses no gasoline at all -- that's an advantage over Toyota's (TM) popular Prius as well as GM's (GM) not-so-available Volt.

 

Tavares said 500 Leafs have been sold in the U.S. since the Dec. 12 launch, and he bragged with a smile that one Leaf driver has even been given a speeding ticket.

With oil prices approaching record highs, green cars are an overwhelming concern at this year's auto show, which is being held simultaneously with the Shanghai Auto Show. The Chevrolet Malibu, new Volkswagen Beetle and BWM 6 Series Coupe are being introduced at both shows.

 

Related Articles

0Comments

DATA PROVIDERS

Copyright © 2013 Microsoft. All rights reserved.

Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.

Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.

Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

126
126 rated 1
258
258 rated 2
459
459 rated 3
599
599 rated 4
671
671 rated 5
683
683 rated 6
601
601 rated 7
455
455 rated 8
269
269 rated 9
113
113 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
ABTAbbott Laboratories10
AIGAmerican International Group Inc10
ATVIActivision Blizzard Inc10
CACA Inc10
CSCOCisco Systems Inc10
More
Fidelity Brokerage Services, Member NYSE, SIPC. (c) 2011 FMR LLC. All rights reserved

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.