The Chennai plant will continue to produce Nissan vehicles, along with Renault cars, for domestic and export markets.
The struggling Japanese carmaker last month warned it would likely book a record $5.1 billion net loss in the financial year that ended in March due to impairment charges
Renault Group will acquire the remaining 51% shareholding in Renault Nissan Automotive India Private Ltd, currently held by Nissan Motor Corp, taking complete ownership of the manufacturing plant
Nissan directors are gauging interest in potential candidates to succeed Makoto Uchida, the 22-year company veteran who’s been CEO since late 2019
Nissan Chief Executive Makoto Uchida said the talks had changed focus from setting up a joint holding company to making Nissan into a subsidiary of Honda
A tie-up would have created the world's fourth-biggest auto group by vehicle sales after Toyota, Volkswagen and Hyundai
The Taiwanese company has approached Nissan and Honda Motor Co. about potential cooperation, Hon Hai Chairman Young Liu told reporters on Wednesday on the sidelines of a company event.
The Japanese carmaker is looking for a partner that would ideally be from the technology sector and US-based
Nissan Chief Executive Officer Makoto Uchida told Honda CEO Toshihiro Mibe that he intends to end integration talks, the Asahi newspaper reported Thursday
Shares in Nissan slid more than 4% before trade was suspended by the Tokyo Stock Exchange following the report in Nikkei newspaper
The company, which has commenced shipping 10,000 units of the left-hand drive (LHD) Magnite across various global markets, is considering the introduction of hybrid and CNG vehicles and more models in India, in addition to its already announced lineup for the country, Nissan India Operations President Frank Torres told PTI in an interview.
Honda, Japan's second-biggest automaker after Toyota, has a market capitalisation of more than $40 billion, while third-ranked Nissan is valued at about $10 billion
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The decision to pause comes after Foxconn sent a delegation to meet with Renault SA — which owns 36% of Nissan and will have a say in any tie-up — in France, people with knowledge of the matter said.
'EV is not an opportunity for these legacy companies, it is a capital guzzling threat and akin to running on a treadmill,' says the market veteran
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A deal would effectively consolidate the Japanese auto industry into two main camps: One controlled by Honda, Nissan and Mitsubishi and another consisting of Toyota group companies
The company, which has increased headcount at its Chennai plant by 600 to add a third shift, does not foresee steps to cut 9,000 jobs and 20 per cent production globally having an impact on India as long as it remains competitive in the market, Nissan India Operations President Frank Torres told PTI.
The automaker also said it would cut global production capacity by 20%
After the transaction, Nissan will pick up a 25% stake in ChargeScape, becoming an equal investor in the joint venture that is currently equally owned by BMW, Ford and Honda.
The New Nissan Magnite also boasts of largest in cabin storage, improved seat comfort, standard expandable boot space from 336L to 540L with standard 60:40 rear seat split
The investment is over and above the USD 600 million the company has earmarked for new product development and creating additional sales infrastructure in the country as it eyes trebling domestic sales to 1 lakh units and exports to a similar number by 2026
The driving force behind this alliance is the urgent need to adapt to a rapidly changing auto industry, marked by the shift from internal combustion engines to EVs.
The company, which is selling just one model in the country currently, is planning to drive in two mid-size SUV models (one five-seater and one seven-seater), one electric SUV and a refreshed version of its compact SUV Magnite
The CVT is quick and decisive, mimicking the mannerisms of a regular torque converter rather effectively. This is a truly impressive engine