The two automakers plan to create a holding company that would be helmed by a president picked by Honda
The surging popularity of electric and hybrid vehicles made by BYD Co. and others has erased the leading position that Japan's automakers once enjoyed
Like other foreign carmakers, both Honda and Nissan have lost ground in China
Honda, meanwhile, has threatened to end its strategic software partnership with Nissan if it looks to join hands with Foxconn, Nikkei said in an earlier report
Representatives for Honda and Nissan in the US didn't immediately reply to a request for comment on the start-date for talks
Honda is considering several options including a merger, capital tie-up or the establishment of a holding company, Executive Vice President Shinji Aoyama said
Nissan said last month its half-year net earnings were down more than 90 per cent from the same period last year and cut its annual operating profit forecast by about 70 per cent
Ma joined Nissan in 1996 in North America and worked in financial roles in China and Japan before being promoted to CFO in December of 2019
Renault has decreased its stake in Nissan from 43% in 2002 to 15% in 2023, aligning with Nissan's 15% non-voting stake in Renault
It scrapped its net profit forecast due to ongoing restructuring efforts, which it said would reduce costs by 400 billion yen ($2.6 billion) this fiscal year
Nissan previously announced that it is going to launch an "affordable" EV by 2026
The plan to roll out six new products, including two electric vehicles under the Franco-Japanese automotive alliance Renault Nissan, at a total outlay of Rs 5,300 crore has been progressing and is on schedule, a top official of French car major Renault India said on Wednesday. Renault-Nissan, in February 2023, had announced investments of USD 600 million (about Rs 5,300 crore) in India, to bring in six new products, including two electric cars, and an upgradation of their Chennai plant. Renault India Country CEO and Managing Director Venkatram Mamillapalle at an event said on Wednesday that about 70-80 per cent of the total committed investments have been invested so far. "We have announced investments of Rs 5,300 crore to introduce six new products. It (the project) is on schedule. You will be hearing from us hereafter, very soon (on the launch of new models)," he said. Mamillapalle was speaking to reporters after unveiling a new range of "Night and Day Limited Edition" variants .
Nissan and Honda said in March they were considering a strategic partnership to collaborate on producing electric vehicle components and artificial intelligence in automotive software platforms
The US and China are Nissan's two biggest markets, accounting for half of global sales in the year through March and 51 in the first quarter of this financial year
Both Japanese automakers have been hit hard in key market China by consumers' shift to low-priced, software-loaded EVs produced by Chinese brands such as BYD
Over the past decade, more than 100 million Takata air bag inflators have been recalled worldwide - including 7 million in the United States - in the biggest auto safety callback on record
It also expects foreign exchange moves to boost its annual results, helping to offset inflationary pressures
Nissan expects to mass produce electric vehicles powered by advanced next-generation batteries by early 2029, the company said Tuesday during a media tour of an unfinished pilot plant. Japan's legacy automakers have fallen behind newer rivals like America's Tesla and China's BYD in the emerging all-electric auto sector. But Nissan, like other companies, sees a chance to catch up and perhaps leap ahead with a new kind of battery that promises to be more powerful, cheaper, safer and faster to charge than the lithium-ion batteries in use today. Solid-state batteries, which replace the corrosive liquids found in conventional batteries with solid metals, are widely seen as the next step for EVs, and leading automakers are racing to develop versions that can be mass produced. Rivals like Volkswagen and Toyota have also announced efforts to produce solid-state EVs, with Toyota setting a date of 2027-28 to begin bringing them to market. But substantial challenges remain before the technol
The Renault Nissan Alliance, a joint venture between automakers Japan-based Nissan and France headquartered Renault would launch four new products in the near future, a top official said here on Wednesday. Renault Nissan Alliance Chairperson Jean-Dominique Senard said India is at the heart of the alliance and every part of car manufacturing happens at the India plant. Renault Nissan Automotive India Pvt Ltd is a joint venture company between Nissan and Renault in India and currently retails five products with two being sold under the Nissan platform and three with the Renault badge. On a short visit to the city, Senard, flanked by Nissan Motor Corporation President and CEO Makoto Uchida and Renault Group CEO Luca de Meo, said March 27th marks the 25th anniversary of the alliance in India. "This is our first visit to India and India will continue to have a major role in our alliance. The alliance has invested USD 1.8 billion so far", he told reporters. "India is at the heart of the
"Therefore, regardless of the IPO whatsoever, we are looking at Ampere. We are already discussing about Ampere, our investment."