Nissan’s plant in Rosslyn, Pretoria, might be up for sale if one has to believe recent reporting by media outlet, Bloomberg.
According to Bloomberg Nissan’s CEO, Ivan Espinosa, is working hard to save the struggling Japanese carmaker, which faces a $5.6 billion debt repayment wall next year. The company is seeking to raise more than $7 billion from debt and asset sales to keep operations on track.
It is also reported that Nissan is seeking to sell part of its stakes in Renault and battery maker AESC, as well as plants in South Africa and Mexico, according to Bloomberg. Sale- and lease-back plans for its Yokohama headquarters, plus properties it owns in the US, are also on the cards.
Nissan was in talks earlier this year with Honda to join forces, but the talks collapsed. More recently, there was speculation that Toyota might be interested in helping Nissan but to date no concrete steps have come from the speculation.
Nissan Motor Corporation says in its reaction to reports on the potential closure of certain plants that it wants to clarify that this news is speculative and not based on any official company information.
“We have officially announced to consolidate the production of Nissan Frontier/Nissan Navara pickups, currently split between Mexico and Argentina, into a single production HUB in the region, centralised at the CIVAC plant in Morelos, Mexico. In March, we announced that Renault Group would own 100% of Renault Nissan Automotive India Private Ltd (RNAIPL), by acquiring the 51%shareholding currently held by Nissan.
“At this time, we will not be providing further comments on this matter. Our focus remains on our operations and the dedicated workforce that drives our success. We are committed to maintaining transparency with our stakeholders and will communicate any relevant updates as necessary,” the Nissan statement says.
Ford will launch seven new models in Europe by 2029, it announced recently, as it seeks to grow its flagging passenger car sales, fend off fierce competition from Chinese rivals and maintain an edge in the continent's commercial vehicle market.
House lawmakers in the United States (US) have proposed bipartisan legislation that would require electric vehicles (EVs) to pay a R2 227 ($130) fee annually for road repairs, and R578 ($35) for some plug-in hybrid models, according to Reuters.
Taking on the challenge of restoring a legacy brand to a stronger position in South Africa is now the focus for Dealer Principal David Venter and his team at Mazda The Glen in the south of Johannesburg.
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Have you ever noticed that anybody driving slower than you is an idiot, and anyone going faster than you is a maniac?
George Carlin
Ford will launch seven new models in Europe by 2029, it announced recently, as it seeks to grow its flagging passenger car sales, fend off fierce competition from Chinese rivals and maintain an edge in the continent's commercial vehicle market.
The battle between Chinese carmakers and their Japanese competitors in South Africa increasingly appears to be a fait accompli in favour of the newcomers from China.
Volvo Cars and Google are working together to shape a new generation of driving experiences by combining automotive engineering with artificial intelligence.
