New Cars and Bikes in India

Nissan Explores Possible Sale Of 34% Stake In Mitsubishi Motors: Report

Nissan is considering looking for potential buyers, which could include other shareholders such as trading firm Mitsubishi Corp, as it is worried it may struggle to recover from a downturn caused by the coronavirus pandemic.

Nissan sells its stakes in Mitsubishi it would bring a fundamental change in the alliance with Renaul expand View Photos
Nissan sells its stakes in Mitsubishi it would bring a fundamental change in the alliance with Renaul

Nissan Motor Co may sell its 34% stake in Mitsubishi Motors Corp in what would be a fundamental change in a three-way alliance that also includes France's Renault SA, Bloomberg News reported, citing unidentified sources.

Nissan is considering looking for potential buyers, which could include other shareholders such as trading firm Mitsubishi Corp, as it is worried it may struggle to recover from a downturn caused by the coronavirus pandemic, Bloomberg said.

"There are no plans to change the capital structure with Mitsubishi," Nissan told Reuters in an emailed statement.

renault nissan mitsubishi sales

Nissan, which has 34% stake in Mitsubishi Motors, is worried it may struggle to recover from a downturn caused by the coronavirus pandemic

Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28% to 340 billion yen (2.5 billion pounds), helped by a rebound in demand, especially in China.

Newsbeep

Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year.

Both companies are cutting production levels and costs in a bid to return to profitability.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

0 Comments

For the latest auto news and reviews, follow carandbike.com on Twitter, Facebook, and subscribe to our YouTube channel.

You might be interested in

New Car Models

Hyundai i20

Hatchback, 0 Kmpl
Hyundai i20
Ex-showroom Price
₹ 6.8 Lakh
EMI Starts
₹ 14,114 9% / 5 yrs

BMW X3 M

SUV, 9.12 Kmpl
BMW X3 M
Ex-showroom Price
₹ 1 Crore
EMI Starts
₹ 2,07,376 9% / 5 yrs

Land Rover Defender

SUV, 14 Kmpl
Land Rover Defender
Ex-showroom Price
₹ 73.98 Lakh
EMI Starts
₹ 1,53,570 9% / 5 yrs

BMW 2 Series Gran Coupe

Sedan, 19 Kmpl
BMW 2 Series Gran Coupe
Ex-showroom Price
₹ 39.3 Lakh
EMI Starts
₹ 81,580 9% / 5 yrs

Mercedes-Benz EQC

SUV, 471 Km/Full Charge
Mercedes-Benz EQC
Ex-showroom Price
₹ 1 Crore
EMI Starts
₹ 2,06,130 9% / 5 yrs

MG Gloster

SUV, 12.35 Kmpl
MG Gloster
Ex-showroom Price
₹ 28.98 Lakh
EMI Starts
₹ 60,158 9% / 5 yrs

New Mahindra Thar 2020

SUV, 13 - 15.2 Kmpl
New Mahindra Thar 2020
Ex-showroom Price
₹ 9.8 Lakh
EMI Starts
₹ 20,343 9% / 5 yrs

Toyota Urban Cruiser

SUV, 17.03 - 18.76 Kmpl
Toyota Urban Cruiser
Ex-showroom Price
₹ 8.4 Lakh
EMI Starts
₹ 17,437 9% / 5 yrs