Thursday, 23 October 2014
Last updated 44 min ago
Nov 8 2009 | 9:20am ET
The French government will invest EUR 125 million ($186 million) in a joint venture by partners Renault SA and Nissan Motor Co. to make batteries for electric cars.
The companies expect to produce 100,000 batteries annually at the French site of Flins, with production starting by 2012. The batteries will power Renault’s planned electric vehicles, but will also be sold to other automakers. Renault says Flins will also be the manufacturing site for its zero-emissions car, the Zoe, production of which should also begin in 2012.
Carlos Ghosn, who heads both companies, believes electric cars will account for 10% of the world auto market by 2020.
The investment is worth an estimated EUR 600 million ($891 million). The French government’s contribution will be made through its strategic investment fund.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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