Nissan has only 12 - 14 months to survive, says senior official

One of the main options for Nissan seems to be looking at rival Honda to become the anchor investor.

According to reports, two senior officials of Nissan Motor Corporation, have confirmed that the brand is looking for a new anchor investor. Reports state that the company is now in what they call "emergency mode" having taken measures, including cutting 9,000 jobs, slashing global production by 20%, selling off its shares in Mitsubishi and even delaying the launch of new models.

Speaking to a media outlet, Nissan officials stated that the brand may have just 12 to 14 months to turn things around and ensure its survival. They stated, "We have 12 or 14 months to survive. This is going to be tough. And in the end, we need Japan and the US to be generating cash."

Nissan is currently weighing up its options. One of the main options for Nissan seems to be looking at rival Honda to become the anchor investor. The two Japanese brands are on the verge of finalising a deal to co-develop electric vehicles.

Nissan Motor India shared the following comment: "As a policy we do not comment on speculatory reports. Nissan remains committed to its India operations, dealers, partners, and customers. We remain on track for our plan announced earlier this year at the launches of the Nissan X-TRAIL and New Nissan Magnite."

Source: FinancialTimes