Tag: $Nissan

Nissan said Tuesday that Ivan Espinosa, its chief planning officer, would take the helm from April 1, ending weeks of speculation over who will succeed Makoto Uchida as leader of the troubled Japanese carmaker.

Nissan and Honda ended merger talks to forge a $60 billion carmaker on Thursday, pitching Nissan deeper into uncertainty and underlining the challenge for legacy auto companies as Chinese rivals upend the industry.

Nissan is set to call off merger talks with rival Honda, a source said on Wednesday, abandoning a $60 billion plus tie-up that would have created the world’s no.3 automaker and raising questions about how it will drive a turnaround by itself.

Shares of Japanese automaker Honda were on track for their best day in 16 years after it announced to buy back up to 1.1 trillion yen ($7 billion) of its shares on Monday amid merger talks with Nissan

Japanese automakers Nissan and Honda on Monday announced they had entered into official talks to merge and create the world’s third-largest automaker by sales.

Japanese automakers Nissan Motor and Honda Motor reportedly plan to enter into negotiations for a merger to better compete in the rapidly changing global automotive industry, the Nikkei newspaper reported Tuesday.

About 6% of Nissan Motor staff in the United States have accepted early retirement packages, a company spokesperson said on Thursday, as part of the struggling Japanese carmaker’s plan to cut 9,000 jobs worldwide.

Japanese carmaker Nissan (7201.T), opens new tab will buy back 5% of its own shares from its French partner Renault (RENA.PA), opens new tab, the companies said on Thursday.

Shares in Mitsubishi Motors surged on Monday following media reports that the Japanese automaker is in talks to join Nissan’s and Honda’s planned strategic partnership.

Nissan Motor will produce electric vehicles for its Chinese joint-venture partner Dongfeng Motor at its Wuhan factory by year-end, the Nikkei newspaper reported on Tuesday, a sign of pressure on the automaker’s China business.

Japan’s Nissan Motor expects to beat analyst estimates with a 5.5% rise in operating profit this fiscal year on higher global sales, it said on Thursday, while warning that intense competition and challenges from inflation would continue.

Nissan Motor slashed its annual operating profit estimate by 14.5% on Friday, citing lower-than-expected vehicle sales and other factors.

Nissan shares plunged over 11% in morning trade Friday, wiping around $1.8 billion off its market value.

TOKYO/PARIS, July 26 (Reuters) – Nissan will invest up to $663 million in Renault’s (RENA.PA) new electric vehicle unit, the automakers said on Wednesday, as they finalised terms of their restructured partnership after months of negotiation clouded by tension.

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Nissan Motor Co on Thursday flagged a better-than-expected 38% rise in profit this year on stronger sales, a rosier outlook for the Japanese automaker as it retools its often difficult alliance with Renault and faces headwinds in China.