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Nissan warns costs must fall to create new electric cars in the UK

February 6, 2023 by Ahmed khatri
Nissan warns costs must fall to create new electric cars in the UK A senior Nissan executive has warned that the "economics have to work" for the business to produce new electric Juke and Qashqai models in the UK. The firm's chief operating officer, Ashwani Gupta, told the BBC that the UK had a problem remaining competitive with other car-making countries. He said that manufacturing expenses in the United Kingdom were greater than in other countries due to higher energy prices and overall inflation. Nissan's Sunderland manufacturing factory employs around 6,000 employees. Mr. Gupta stressed that low production costs were critical to keeping the UK competitive. Other methods to maintain the UK appealing to automakers, he says, include continuous government assistance for the transition to electric vehicles and stable supply networks. Nissan has already committed to building its Leaf electric car's successor at its Sunderland factory. Still, Mr. Gupta said that when it came to distributing production of future Juke and Qashqai models between its 44 global factories, the business "needs to have the economics to justify it." The choice of where to produce the next Juke and Qashqai will have to wait a few years because the next models of those large Sunderland-made vehicles aren't due until 2027-28, and decisions are often taken two or three years in advance. Automobile manufacturers frequently lobby governments to provide extra assistance. Nissan has received approximately £100 million in public funds towards a £1 billion investment in constructing a Chinese-owned battery factory adjacent to its Sunderland plant. However, the global car manufacturing map is changing, and the United States is offering billions of dollars in subsidies to automakers who relocate production and supply networks there. The EU is also expected to reply with its incentives. Mr. Gupta's remarks came after Nissan and Renault disclosed the outlines of a major shake-up to their frequently contentious 24-year-old alliance, following months of negotiations between the automakers. The two companies stated in a joint statement that they had "rebalanced" their relationship by agreeing to reduce Renault's stake in Nissan. As part of the agreement, Nissan would acquire a stake in Renault's premier electric vehicle company, Ampere. The firms also said they would collaborate on electronics and battery technology while saving money through joint initiatives in Europe, India, and Latin America. Renault's stake in Japan's Nissan will be reduced from more than 43% to 15%, the same as Nissan's stake in its French rival. According to the firms, Nissan will also invest up to 15% in Renault's new electric car venture, Ampere. CLSA's Christopher Richter stated that the revisions were necessary to keep the two-decade collaboration alive. "It's a desperate attempt to save an alliance where the two partners don't get along," he told the BBC. "Hopefully, by equalizing their status in the alliance, they will be able to put some of the animosity behind them and identify a limited number of activities in which they can cooperate and give value to each other," Mr. Richter continued. The decision comes at a critical juncture in the automotive industry's transition to electric vehicles and the adoption of new technology. "We all know that auto manufacturers will be merged into five or six internationally, especially given the significant advancements in AI technology," Seijiro Takeshita of Japan's University of Shizuoka told the BBC. "In that environment, Nissan and Renault require a good partner, which they are, at least theoretically. They cannot and do not have the luxury of fighting this struggle alone, "He said. The alliance was created in 1999 when Renault saved Nissan from bankruptcy. Mitsubishi joined them in 2016 after Nissan acquired a significant stake in the struggling Japanese manufacturer. The alliance was shaken in November 2018 when Nissan CEO Carlos Ghosn was arrested on suspicion of understating his annual income and misusing corporate cash. Mr. Ghosn has disputed the allegations. Mr. Ghosn was the chairman of the Japanese automaker at the time. He was also the chairman of Renault in France and the leader of a three-way alliance involving both carmakers and Mitsubishi.

A senior Nissan executive has warned that the “economics have to work” for the business to produce new electric Juke … Read more

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Drop the title? Many employers are Fine with it,

February 3, 2023 by Ahmed khatri
Drop the title? Many employers are Fine with it,

In a tight labor market, employers are Finding” that they can get by with workers who don’t have sheep’s skin. … Read more

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Who Plays Plain In The Remainder Of Us Show?

January 28, 2023 by Ahmed khatri
Who Plays Plain In The Remainder Of Us Show?

HBO’s The Remainder of Us rolls out certain improvements from its source material, including Blunt, a game person who is … Read more

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Starmer: need to save the car of the UK

January 19, 2023 by Ahmed khatri
Starmer: need to save the car of the UK

Following the failure of British Volt, the country’s largest project to develop electric car batteries, Labour leader Sir Keir Starmer … Read more

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Fishermen are concerned about another shellfish extinction

January 15, 2023 by Ahmed khatri
Fishermen are concerned about another shellfish extinction

Fishermen on the North East coast who blame dredging for a shellfish die-off are anxious that more silt may be … Read more

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Should you put references on a resume?

December 22, 2022 by admin
Should you put references on a resume?

While a list of strong references can help your job search, you should still consider one on your resume. Suppose you can … Read more

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After a backlash in Japan, the mascot of the Donki bargain retailer is save

December 21, 2022 by Ahmed khatri
After a backlash in Japan, the mascot of the Donki bargain retailer is save

The biggest discount retailer in Japan has changed its mind about replacing its mascot in response to online criticism from … Read more

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The top 25 antique stores in the US

December 8, 2022 by Ahmed khatri
Antiques Shops

Antiques Shops Intro An antique shop is a type of retail shop that sells antiques. Antique stores can be found nearby or online with … Read more

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Information about Hong Kong stocks

December 2, 2022 by Ahmed khatri
Hong Kong stock

Hong Kong stocks close with extended gains HONG KONG: Hong Kong concluded Wednesday with another solid rise. On the back of … Read more

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RBC and the National Bank of Canada increase their doubtful debt arrangement, denting stock

December 1, 2022 by Ahmed khatri
denting stock

More money was set aside by the Royal Bank of Canada(RY.TO) and the National Bank of Canada (NA.TO) on Wednesday … Read more

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