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.
BMW believes its fortunes in China will turn around with the introduction of its revolutionary Neue Klasse electric vehicle series, which took a major step forward this week with the launch of its first model.
Tata’s passenger vehicles made a return to the South African market with some interesting models. Let’s take a closer look at what is available and at what price.
South Africa will leverage the Intra-African Trade Fair (IATF) 2025 in Algiers, Algeria, from 4 to 10 September to cement its position as Africa's automotive manufacturing leader.
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You can't buy happiness but you can buy cars and that's kind of the same thing.
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South Africa will leverage the Intra-African Trade Fair (IATF) 2025 in Algiers, Algeria, from 4 to 10 September to cement its position as Africa's automotive manufacturing leader.
According to a Reuters report, China's automotive sector faces an unprecedented crisis beneath its outward success. Despite becoming the world's largest car exporter and producing global leaders like BYD and Geely, the industry is trapped in a destructive spiral threatening widespread bankruptcies.
Europe's automotive industry has issued a unified call for the European Union (EU) to recalibrate its green transition strategy, with leading manufacturers and suppliers expressing growing concerns about the feasibility of current electrification timelines and regulatory frameworks.
