Nissan to Install New Chargers for LEAF - Analyst Blog
July 12 2013 - 2:00PM
Zacks
Nissan Motor Co. (NSANY) seems to follow in the
footsteps of Tesla Motors Inc. (TSLA). The
Japanese automaker plans to install more than 100 DC quick chargers
at LEAF-certified dealers for its all-electric car LEAF in 21 key
markets across the U.S. This follows Tesla’s May announcement of
adding more supercharging stations across the U.S.
Nissan Motor will begin installing the new chargers in east
coast this summer. The company expects to complete
installation of quick chargers and make them operational at 100
additional dealerships by Apr 1, 2014.
As part of this initiative, Nissan had launched a 24-dealer pilot
program at dealerships located in San Francisco, Los Angeles, San
Diego, Sacramento and Seattle. During the program, Nissan studied
the frequency of use for the chargers and the impact that charging
has on its dealers’ performance.
AeroVironment is the charging partner of NSANY in the project. It
will provide the quick chargers and installation services for
nearly all of the new charging units.
The charging units use the CHAdeMO standard. They can charge the
vehicles nearly 80% in about half an hour.
Electric cars have always been criticized for their limited driving
range leading to their weak demand. This led to limiting sales of
vehicles such as LEAF, General Motors’ (GM) Volt
and Toyota Motor’s (TM) plug-in Prius.
Among the well-known electric cars, Tesla Motor’s Model S has a
relatively longer driving range. The vehicle can travel 208 miles
per charge for about three hours in normal driving conditions while
its top-end model can travel about 265 miles in a single
charge.
Tesla decided to expand the supercharging network so that owners of
Model S sedan can make long-distance trips without any hassle since
the network can recharge the battery up to 50% of its capacity in
20 to 30 minutes. With further improvements in technology, TSLA
will reduce the time to fully recharge the battery nearly half an
hour to 20 minutes.
Currently, TSLA has eight supercharger stations in California and
on the East Coast. The company plans to add four stations in
California this summer, so that by fall this year; it should have
charging stations in most metro areas.
By 2014, Tesla plans to install charging stations within the reach
of 80% of people in the U.S. and Canada, and 98% by 2015. With
this, the company intends to provide supercharging stations every
80 to 100 miles.
Nissan Motor posted a 12.9% increase in sales to 92,237 units; it’s
best-ever June sales. The improvement was driven by double-digit
gains in Altima and Sentra sedans and fourfold increase in LEAF
sales to 2,225 units after a price reduction of more than $6,000 at
the beginning of the year. In the first half of the year, Nissan
LEAF sales more than tripled to 9,839 units.
Currently, shares of Nissan Motor retain a Zacks Rank #1, which
implies a short-term (one to three months) Strong Buy rating.
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