Nissan reportedly planning to sell stake in Mitsubishi Motors November 16, 2020 Nissan is reportedly mulling plans to sell all or part of its stake in fellow Japanese car giant Mitsubishi, in a move that would shake up the global car market. Two years on from the scandalous arrest of former chief exec Carlos Ghosn, the move would radically alter the global alliance between the two and [...]
Nissan: Sunderland plant still under threat from no-deal Brexit June 3, 2020 Nissan’s Sunderland plant will be “unsustainable” if the UK leaves the EU without a trade deal, the car manufacturer has said. Global chief operating officer Ashwani Gupta said the EU was the factory’s biggest customer and Nissan could not maintain its commitment if there were no tariff-free access to the trade bloc. The Japanese car [...]
US arrests two men over escape of former Nissan boss Carlos Ghosn May 20, 2020 US authorities today arrested two men wanted by Japan on charges of aiding the escape of former Nissan boss Carlos Ghosn from the country. Prosecutors have accused former US special forces soldier Michael Taylor and his son Peter of helping Ghosn flee to Lebanon last year to avoid trial in Japan over alleged financial misconduct. [...]
Nissan considers moving Renault production to Sunderland plant May 15, 2020 Nissan is considering moving the manufacturing of two Renault SUV models from Barcelona to its Sunderland plant, it is reported. Such a move could secure thousands of British manufacturing jobs at Nissan, which committed £400m in extra funding to the factory in March. The Japanese car manufacturer is reportedly in talks with its strategic partner [...]
Nissan to make restructuring cuts of $2.8bn – report May 13, 2020 Japanese auto giant Nissan is preparing to make cuts of $2.8bn (£2.3bn) in fixed costs as part of its restructuring plan, as the firm prepares to make its first loss since the financial crisis. Bloomberg reported that the company will announce the plan on 28 May after three years of falling profits at the Japanese [...]
Nissan set for first loss since 2008 financial crisis April 28, 2020 Nissan is on course to post its first annual loss since the 2008 financial crisis, the Japanese auto giant warned today. Car sales have collapsed around the world as the coronavirus pandemic has drained demand, with carmakers braced for significant losses. In a statement, Nissan said it was forecasting a loss of 45bn yen (£338m), [...]
Nissan puts £400m into Sunderland factory despite Brexit tariff fears March 6, 2020 Nissan will invest £400m into its Sunderland plant in a much needed boost for the facility, the future of which has been in doubt due to fears over possible tariffs post Brexit. The investment comes as Nissan ramps up its preparations for its new Qashqai model, including a £52m new press line, which was unveiled [...]
Nissan records losses amid backdrop of Carlos Ghosn scandal February 13, 2020 Nissan has posted a net loss of 26.1 billion yen (£183.3m) in the third quarter of 2019. The company has cut its annual operating profit forecast by 43 per cent after global vehicle sales fell 11 per cent from October to December. This comes as it faces a changing car market and fallout from the [...]
Nissan to file £70m lawsuit against fugitive ex-chief Carlos Ghosn February 12, 2020 Nissan wants 10bn yen (£70m) in damages from its former boss Carlos Ghosn in relation to his alleged financial misconduct, Reuters has reported. The civil lawsuit filed to seek the sum follows Ghosn’s dramatic escape from Japan to Lebanon last December. The allegations the former Nissan chair faces, all of which he denies, include understating [...]
Coronavirus hits production at Nissan’s Japanese plants February 10, 2020 Nissan has announced that it will temporarily halt production at one of its factories in Japan due to the outbreak of the coronavirus. The decision will affect the Kyushu facility in southwest Japan and has been taken due to difficulties sourcing parts from China. This comes as the global automotive industry is facing a slowdown [...]