Nissan's gamble on electric cars revs up [View All]

Source: The Tennessean

Nissan today will begin investing even more money in Tennessee as part of an ambitious project to build electric cars — a risky move in a nation where consumers have failed to embrace them.

But as the Japanese automaker starts construction on a $1 billion lithium-ion battery plant at its Smyrna manufacturing complex, Chairman and Chief Executive Carlos Ghosn signals that he is committed to the project. Nissan and its European partner, Renault, have pledged more than $5 billion for a worldwide rollout.

Risky or not, the investment is being heartily welcomed by Tennessee, which has lost 10,000 manufacturing jobs in the past year.

It's a gamble that analysts say might succeed if gasoline prices rise to record levels and remain there, but it could prove disastrous to Nissan's future.


Read more: http://www.tennessean.com/article/20100526/BUSINESS01/5260384/Nissan+s+gamble+on+electric+cars+revs+up