Japanese automaker Nissan Motor and French counterpart Renault have finalized the framework for an agreement to change the structure of their partnership. Renault currently holds 43% of Nissan’s shares, but with the new agreement each company will hold 15% of the other’s shares. This will make the partnership more equal. We will pay close attention… Continue reading Nissan-Renault new chapter should be based on innovation, not scale
Author: Nikki News Feed
Foxconn’s new EV exec Jun Seki had insider’s view at Nissan, Nidec
TAIPEI/KYOTO, Japan — After working for both Nissan Motor and Japanese EV motor maker Nidec, Jun Seki will reboot his automotive industry career at one of the electric vehicle market’s newest players, Foxconn. As the chief strategy officer of Foxconn’s EV business from Wednesday, Seki will navigate the Taiwanese iPhone assembler’s drive to go from zero to… Continue reading Foxconn’s new EV exec Jun Seki had insider’s view at Nissan, Nidec
Geely to float arm of carmaker Lotus via $5.4bn deal with LVMH vehicle
LONDON (Financial Times) — China’s Geely will list part of its sports car brand Lotus in the U.S. through a merger with a shell company that was founded by an LVMH-backed investment group in a deal that values the automaker at $5.4 billion. The merger announced on Tuesday will be between Lotus Technology, which has… Continue reading Geely to float arm of carmaker Lotus via $5.4bn deal with LVMH vehicle
Nissan-Renault alliance changes lanes as roles reverse
Nissan-Renault alliance After rescuing Japanese partner, French automaker now in need of boost The Renault City K-ZE electric car at the Shanghai auto show in 2019. The automaker seeks to launch an EV unit as early as this year. © Reuters SOTARO YUMAE, Nikkei staff writerFebruary 1, 2023 03:47 JST | Japan TOKYO — Over… Continue reading Nissan-Renault alliance changes lanes as roles reverse
China’s BYD starts EV sales in Japan as it chases Tesla
YOKOHAMA, Japan — Chinese automaker BYD began selling electric vehicles in Japan on Tuesday as it pursues its global ambitions to overtake more established nameplates. BYD’s debut in the world’s fourth largest auto market comes with it having secured its place as China’s top EV seller and nipping at the heels of American EV giant Tesla in… Continue reading China’s BYD starts EV sales in Japan as it chases Tesla
Nissan-Renault alliance overhaul reflects pivot from scale to tech
TOKYO — The deal announced Monday between Nissan Motor and Renault reworks the Japanese-French alliance for an era in which automakers need to consider more than just expansion as they pick their partners. Under the deal, Renault will cut its stake in Nissan to 15%, putting the capital relationship on an equal footing, and Nissan… Continue reading Nissan-Renault alliance overhaul reflects pivot from scale to tech
Foxconn hires former Nissan exec Jun Seki as EV strategy head
Technology Auto veteran also served as chief of motor maker Nidec until last year Japan auto industry veteran Jun Seki has been hired as Foxconn’s chief strategy officer of its electric vehicle business. (Photo by Atsushi Ooka) LAULY LI, Nikkei Asia tech correspondentJanuary 30, 2023 17:30 JST | Taiwan TAIPEI — Foxconn has named Japan auto… Continue reading Foxconn hires former Nissan exec Jun Seki as EV strategy head
Renault agrees to cut stake in Nissan to 15%
TOKYO — Japanese automaker Nissan Motor and its French partner Renault have reached an agreement to reduce the latter’s stake in Nissan, Nikkei learned Monday. Nissan said in a statement that “it has reached an important milestone in its discussions with Renault Group on defining new foundations for their partnership,” confirming Nikkei’s earlier report. The… Continue reading Renault agrees to cut stake in Nissan to 15%
Toyota defends title as world’s top-selling automaker in 2022
TOKYO (Reuters) — Toyota Motor sold 10.5 million vehicles in 2022, it said on Monday, defending its title as the world’s top-selling automaker for a third straight year. Global sales for the group, including truck unit Hino Motors and small-car maker Daihatsu, inched down 0.1% as record overseas sales of 8.6 million vehicles helped offset… Continue reading Toyota defends title as world’s top-selling automaker in 2022
Toyota needs to shed ‘carmaker’ mantle for next chapter of growth
TOKYO — During his 14-year tenure at the helm of Toyota Motor, President Akio Toyoda doggedly pursued the dual mission of transforming the automaker into a business thriving in the era of connected cars while fortifying its endurance. After Toyoda steps down in April, that mission will be handed down to successor Koji Sato. But… Continue reading Toyota needs to shed ‘carmaker’ mantle for next chapter of growth