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Citigroup raised its price target for Marvell Technology (MRVL.O) from $225 to $275.Wells Fargo lowered its price target for Walmart (WMT.N) to $120 from $140.Barclays raised its price target for Estée Lauder (EL.N) from $80 to $97.On August 21, Toyota Motor (China) Investment Co., Ltd. filed a recall plan with the State Administration for Market Regulation in accordance with the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products." The recall, number S2026M0090V, involves 18 imported TOYOTA SUPRA 2.0T vehicles manufactured between September 6, 2022, and February 28, 2023. Due to a manufacturing defect in the starter motor, these vehicles may experience abnormal wear after repeated starts, leading to difficulty starting the vehicle. In extreme cases, this could cause a short circuit within the starter motor, resulting in localized overheating and a fire risk.On August 21, it was reported that Zhaoqing Xiaopeng New Energy Investment Co., Ltd. has filed a recall plan with the State Administration for Market Regulation in accordance with the "Regulations on the Recall of Defective Automobile Products" and the "Implementation Measures for the Regulations on the Recall of Defective Automobile Products." The recall, number S2026M0101V, involves the recall of 134,588 Xiaopeng G6 vehicles produced between April 7, 2023 and December 22, 2025; 94,688 Xiaopeng P7+ vehicles produced between July 23, 2024 and December 10, 2025; and 35,566 Xiaopeng X9 vehicles produced between August 8, 2023 and September 26, 2025. The vehicles within this recall scope have an emergency mechanical grab handle that is difficult to identify and operate due to its color being similar to the interior trim. In extreme situations such as a severe collision causing the vehicles low-voltage system to fail, it may affect the ability of passengers to quickly open the doors and escape, posing a safety hazard. Zhaoqing Xiaopeng New Energy Investment Co., Ltd. will affix warning labels free of charge to the emergency mechanical handles inside the recalled vehicles to reduce this safety risk.

Nissan requires its partner Renault to decrease their share

Skylar Williams

Oct 09, 2022 11:41

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Nissan Motor Co Ltd is putting pressure on Renault SA (OTC:RNLSY) to reduce its investment in the Japanese automaker and restructure their more than 20-year-old partnership, according to the Wall Street Journal, citing people familiar with the discussions.


Renault (EPA:RENA) owns approximately 43% of Nissan (OTC:NSANY), while Nissan (OTC:NSANY) holds 15% of its largest shareholder without voting rights.


Nissan disclosed for the first time in June the specifics of its alliance agreement with major shareholder Renault, which prohibits Renault from increasing its stake unilaterally above 44.4%.


According to the article, they have discussed whether Nissan will join Renault's new subsidiary that will house its electric vehicle (EV) assets in exchange for its French ally selling down its Nissan investment.


Nissan's chief operating officer Ashwani Gupta was among the executives who traveled to France last month to discuss a potential investment in Renault's new electric vehicle (EV) division, according to the publication.


In an effort to catch up to competitors such as Tesla (NASDAQ:TSLA) and Volkswagen (ETR:VOWG p) in the race to greener driving, Renault is moving forward with plans to separate its electric vehicle (EV) and internal combustion engine (ICE) divisions.


This fall, a comprehensive plan for the new EV organization is expected to be unveiled.


Nissan did not immediately respond to Reuters' request for comment after regular business hours, whereas Renault declined to comment on the report.