Nissan Motor Corporation is in search of a new anchor investor as the company grapples with what it has labeled “emergency mode” during a press conference earlier this month. Measures include cutting 9,000 jobs, slashing 20% of its global manufacturing capacity, selling off its shares in Mitsubishi, and delaying the launch of new models. According to one Nissan official, the brand may have just 12 to 14 months to turn things around and ensure its survival.
As all of this is taking place, Renault is selling Nissan shares. It owned up to 46 percent of the Japanese brand for a time. Now, it’s below 40 percent and will continue to fall. At the same time, Honda is finalizing a deal with Nissan to co-develop electric vehicles.
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