Automotive News Europe - March 2, 2009 - 25

March 2, 2009 www.autonewseurope.com · PAGE 25 Nissan wants EU government financing for electric vehicles Lack of help from commercial banks sends automaker looking for cash from EIB Lawrence J. Speer Automotive News Europe PARIS Nissan is seeking European Investment Bank financing to help it develop electric cars that it will start selling in 2012, a senior executive said. The Japanese carmaker is also seeking EIB loans for research on Photo: Philip Meech The Nuvu concept previews Nissan’s vision for an electric city car. small, fuel-efficient engines and to boost productivity at its Barcelona factory, Eric Nicolas, Nissan’s senior vice president finance and administration, said. “I need money to survive and we are not going to get it from the banks at the moment,” Nicolas said. Nissan has informed the Luxembourg-based EIB that failure to win European financing could force it to suspend some European r&d or purchasing activities. The carmaker hopes to see an ini- tial injection of low-cost financing before year-end, to help fund the European elements of its global electric vehicle project, which is being coordinated with alliance partner Renault. Renault has applied for ¤400 million of EIB financing for its share of the electric vehicle project. The EIB announced in mid-February a ¤400 million loan to help Volkswagen develop greener powertrains. PSA/ Peugeot-Citroen has requested a similar ¤400 million loan package ANE for r&d on cleaner engines. Ford taps Web to test the new Fiesta in US John Revill Automotive News Europe Ford Motor is asking Internet social networkers in North America to test its Fiesta ahead of the car’s launch in the US next year. Under a marketing program called Fiesta Movement, Ford will select 100 customers to drive the new Fiesta and then share their experiences through social networking sites such as Facebook, FlickR and YouTube. “It’s one thing to talk Ford has sold 89,000 of about the the latest Fiesta in Europe vehicle, but since its launch in August. it’s another to put people into it and let them experience it,” said Connie Fontaine, Ford’s brand content and alliances manager, in a statement. The marketing initiative will start in April. The 100 five-door Fiesta hatchbacks involved in the program were built in Ford’s factory in Cologne, Germany. The cars are powered by 120hp, 1.6-liter gasoline engines. Ford introduced its sixth-generation Fiesta in Europe last August. The company has sold more than 89,000 units in its main 19 European markets since then. Ford will build Fiestas for North America in its plant in ANE Cuautitlan, Mexico. BMW 7 series takes road trip Diana T. Kurylko Automotive News Europe SAN DIEGO, California, USA BMW is courting potential buyers of its revamped 7 series with a 15-city road tour. The goal: Offer an early look at the flagship sedan at informal events without the cost of a national TV blitz. The tour began February 1 and runs through March 4. The 7 series is due in showrooms in late March. At a typical stop, several cars are displayed at a hotel, where BMW and event management staffers spend about two hours with about 100 invitees. Potential buyers are urged to climb in and out of the vehicles and ask questions. When the tour ends, the 7 series will have been at more than 60 events, said Alanna Bahri, brand manager for the 6 and 7 series. The approach is new for BMW, said Bahri. She said BMW hopes that about 50 percent of 7-series buyers will be lured from competitors’ vehicles such as the Mercedes-Benz S class, ANE Lexus LS and Audi A8.

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Automotive News Europe - March 2, 2009

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