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.
Leapmotor at Stellantis South Africa announced a partnership agreement with boutique car rental company, Drive Electric, to make premium electric mobility more accessible to local driving consumers.
Electric vehicles (EVs) are still expected to dominate the European Union’s (EU) car market from 2035, yet their eventual share could vary considerably depending on the strength of upcoming emissions rules, according to new findings from the transport campaign group Transport & Environment (T&E).
The National Automobile Dealers Association (NADA) in the United States (US) has renewed its backing for policies aimed at preventing Chinese vehicle manufacturers from establishing a foothold in the US, despite growing expectations that their entry may be inevitable.
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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
The National Automobile Dealers Association (NADA) in the United States (US) has renewed its backing for policies aimed at preventing Chinese vehicle manufacturers from establishing a foothold in the US, despite growing expectations that their entry may be inevitable.
Japanese carmakers are scaling back operations in Southeast Asia and Africa as competition from rapidly expanding Chinese manufacturers reshapes the global automotive landscape.
Department of Trade, Industry and Competition (DTIC) Minister Parks Tau has welcomed the approval of the African Growth and Opportunity Act (AGOA) Extension Bill by the United States (US) House of Representatives.
