Nissan barely gave CCS a chance before committing to a Tesla port

Good morning! It is Wednesday, July 19, 2023, and this is it The morning shift, a daily summary of the world’s most popular automotive news, in one place. Here are the important stories you need to know.

Stage 1: Nissan on board

On Wednesday, Nissan announced that it will begin implementing Tesla’s charging port — also known as the “North American charging standard” by automakers who don’t want to give Tesla too much credit — in its vehicles starting in 2025. It’s kind of funny because a Arya after Nissan’s first electric car to support the global traditional CCS standard Leaf it languished with the slow and relatively rare CHAdeMO interface throughout its existence. Looks like someone at Nissan suddenly cares a lot about the customer charging experience! From Automotive news:

“The adoption of the NACS standard underscores Nissan’s commitment to making electric mobility even more accessible as we pursue our Ambition 2030 long-term vision for greater electrification,” said Jeremie Papin, president of Nissan Americas.

In the past few months, Tesla has struck similar deals with Ford Motor Co., General Motors, Hyundai, Mercedes-Benz and Volvo. But Japan’s big brands – Honda and Toyota – are still holding on.

According to iSeeCars, Tesla has the most extensive fast-charging network in the United States, with more than 17,000 unique chargers in the Supercharger network. Networks using combined charging systems, such as Electrify America and EVgo, have about 11,500 fast chargers.

Next year, Nissan will offer adapters to customers who want to connect to Tesla’s superchargers. until next year the native support is not included in the new vehicles. For now, Nissan only has to worry about the Ariya, but in the “second half” of the decade, both it and Infiniti expect to see a number of electric cars on the market. Remember Infiniti?

2nd Gear: This cruise ad is really pissing people off

Did you happen to catch an ad for General Motors’ Cruise autonomous taxi unit that ran? The New York Times and last week’s other papers? “People are terrible drivers,” it began, great write-up, selling the same tired talking points he’s been repeating for years on the “move fast and break things” line to justify technology that’s clearly not yet ready for public consumption. Former National Highway Traffic Safety Administrator Joan Claybrook made the announcement on behalf of the group Advocates for Highway and Auto Safety. Across Auto News:

The ad prominently featured the number of Americans who will die in car crashes in 2022 — a choice that didn’t sit well with former NHTSA administrator and safety advocate Joan Claybrook.

“Using the pain and suffering of such deaths to self-promote an unproven and unsafe product is reckless,” Claybrook said in a statement distributed by Advocates for Highway and Auto Safety. […]

“There are real accounts of the havoc that Waymo and Cruise robo-taxis have wreaked on the roads and citizens of San Francisco,” Claybrook said, citing local officials’ concerns about safety incidents involving robo-taxis on city streets. “Their shared experiences highlight the dangers that have disrupted police operations, hampered firefighting and blocked local streets and intersections.”

We reported that Cruise and Waymo are boosting traffic in San Francisco many, many times around these. Of course, GM’s ad made no mention of these incidents, nor of the emergency responses hampered by its vehicles, nor of the unit’s unwavering obsession with expansion, even if a safety probe by NHTSA. Right now Cruise is seeking an introduction certificate for Origin’s driverless vehiclewhich does not include handlebars or pedals.

Gear 3: Carvana Reduces Debt

Carvana shares have lost 87 percent of their value since 2021, but the online used car retailer is recovering. In fact, its shares have seen a significant 40 percent rise after announcing a debt swap deal that will eliminate $1.2 billion in outstanding debt. From The New York Times:

Troubled used car dealer Carvana said on Wednesday it had struck a debt restructuring deal with a majority of its bondholders in a bid to reduce interest payments for at least the next two years and put the business on firmer financial footing.

The once fast-growing company, which sells cars online and in transparent parking garages scattered around the country, flourished during the pandemic when demand for cars soared and many people were willing to buy them sight unseen. But Carvana took on a lot of debt, made a big acquisition, and was unprepared for falling used car prices and rising interest rates.

According to Carvana, the restructuring agreement covers more than $5 billion of senior unsecured notes and included participation from Apollo Global Management, its largest noteholder. Under the terms of the deal, lenders will receive new covered bonds.

Interest on the new debt will be paid in kind over the next two years, meaning Carvana’s capital debt will increase, but the company won’t have to make about $430 million in interest payments in cash. The new debt is also due later than the old banknotes.

Carvana also only lost $105 million in the second quarter of 2023, which doesn’t sound too good until you consider that number was more like $439 million a year ago. Baby steps!

4th Gear: JLR installs a battery at home

Owned by Tata Group Jaguar Land RoverIt plans to build a £4bn battery factory in the UK by 2026, the company announced on Wednesday. At peak capacity, the facility will be capable of producing 40 gigawatt-hours worth of batteries and will be able to supply an average of up to 500,000 vehicles per year. And as these negotiations usually go, UK officials had to give Tata a very attractive deal to secure his patronage. From Bloomberg:

The decision is a major victory for the UK government, which has blocked competition from Spain for the factory. The British car industry is struggling with generous stimulus packages for green technology in the United States and the European Union.

The British government “fought hard” for the plant after Tata informed ministers nine months ago that it was planning another country, Energy Secretary Grant Shapps told the BBC on Wednesday. The UK gave Tata a big financial incentive, he said, but declined to give the exact amount of the subsidies.

Shapps told Times Radio in a separate interview that the UK’s plan to have some of the lowest energy prices in Europe helped Tata.

The facility is projected to create 4,000 jobs in the automotive sector, which is a big deal Brexit has ruined the industry for the countrylong before auto manufacturers were encouraged by the Anti-Inflation Act to look west for future factories.

Reverse: George Washington Carver arrives in Dearborn

On this day in 1942, 81 years ago, George Washington Carver met Henry Ford in Dearborn. Ford invited Carver to develop a synthetic rubber alternative, as rubber was in short supply during the war. They began corresponding in 1934 and had met several times before, both in Michigan and at the Tuskegee Institute, where Carver was a professor.