Nissan profits soar to £832.2m as carmaker takes advantage of weaker yen and cuts sales estimates February 9, 2023 Nissan said its profits had risen by 60 per cent due to a combination of weaker yen and what it called “cost optimisation”. The Japanese car maker has reported a ¥133.1bn (£838.2m) in the three months ended, up from last year’s ¥52.2bn. Revenue also soared by 28.5 per cent to ¥2.2tn, while net income at [...]
McDonalds and Nissan could buy back Russian subsidiaries as it is revealed most Western corps have failed to exit the country January 19, 2023 The vast majority of Western corporations have failed to properly exit Russia, according to research carried out by two Swiss universities. Multinational firms such as including McDonalds and Nissan even have kept an option to buy back their Russian subsidiaries via clauses into their exit contracts; this would let them return to Russia if tensions [...]
Nissan logs £613m hit as Japanese carmaker exits Russia and shuts factory October 11, 2022 Japanese carmaker Nissan has said it plans to sell its Russian operations to its local partner and withdraw from manufacturing there. The company said its executive committee approved the sale to Russia’s Central Research and Development Automobile and Engine Institute (NAMI). The sale includes Nissan’s factory and R&D facilities in St Petersburg and its sales [...]
Nissan confirms full exit from Russia and takes ‘one-off impact’ of £620m loss October 11, 2022 Nissan has announced its full exit from Russia eight months after the invasion of Ukraine, taking a “one-off impact” of around £620m. Signalling its “imminent” departure from the country, the Japanese car giant approved the sale of Nissan Manufacturing Russia’s operations to NAMI, the Central Research and Development Automobile and Engine Institute. Nissan said it [...]
Nissan: 250 jobs are safe despite engine cylinder factory ceasing production August 23, 2022 A Nissan factory in Sunderland is to cease production in 2024 but the company says it does “not expect this to result in job losses”. The car-maker said its engine cylinder factory will close after Renault, its only customer, did not renew a contract to produce the cylinder heads. In a statement to City AM, [...]
‘The new normal’: Nissan says industry needs to live with chip shortages May 12, 2022 The automotive industry needs to live with semiconductor shortages as they have become “the new normal,” according to Nissan. “Semiconductor shortage is a new normal, same as the pandemic, and we have to live with it because this is not going to finish tomorrow morning,” chief operating officer Ashwani Gupta said today. The Japanese automotive [...]
Go green or go home: Renault, Nissan and Mitsubishi invest £19.2bn in EV development January 27, 2022 A consortium formed by automotive giants Renault, Nissan and Mitsubishi will invest €23bn (£19.2bn) within the next five years to develop electric vehicles (EV). As part of its Alliance 2030 electrification strategy, the consortium will increase the number of common EV platforms from four to five, developing 35 new EV models by 2030. The car [...]
Nissan bets heavily on electric cars as it pours £13.2bn into 23 new models with key role for Sunderland plant November 29, 2021 Car giant Nissan said this morning it plans to spend more than £13bn on developing electric vehicles. At a news conference in Japan the car manufacturer, which has a major plant in Sunderland, revealed it will develop 23 new electric models by 2030. By that time, the firm aims for half of its global output [...]
Sunderland gigafactory to undergo massive expansion amid rise in EV demand October 25, 2021 The UK’s Sunderland gigafactory is set to be expanded as the Chinese firm behind the plant looks to bolster its electric vehicle battery division. The move will see capacity swell sixfold, as it increases from the 1.7-gigawatt hours (GHh) to 11GWh, when the site is expected to be opened. Though the boss of the Chinese [...]
Nissan: Strong US demand and weak yean result in surprise profit July 28, 2021 Nissan posted a surprise profit in its latest quarter, helped by a weaker yen and stronger U.S. demand. Watch the full report.