Latest news with #Ambition2030
Japan Forward
19-05-2025
- Automotive
- Japan Forward
Tokyo Formula E Sparks Hope at Wobbling Nissan
The world of Formula E returned to Tokyo on May 17 for a two-day showdown. Now in its 11th year, the all-electric global championship has cemented itself as a proving ground for sustainable motorsports. Racing on home turf, Team Nissan drew special attention as the sole Japanese automaker on the grid. British driver Oliver Rowland rose to the occasion, clinching victory in Sunday's race and tightening his position in the season standings. Team Nissan's Garage at Tokyo Big Sight in Ariake (©Kenji Yoshida) But while the team enjoyed a boost on the track, the mood at Nissan's corporate headquarters told a different story. The company is facing a turbulent time. Slumping global sales and a string of strategic missteps have severely undermined confidence in the once-dominant auto giant. In May, Nissan announced a plan to cut approximately 20,000 jobs, or 15% of its global workforce. Merger talks with Honda, once seen as a potential lifeline, have collapsed over fundamental disagreements. Meanwhile, escalating US tariffs on Japanese vehicles add to the pressure. Still, Tommaso Volpe, managing director and team principal of Nissan Formula E, remains optimistic. In an exclusive interview with JAPAN Forward, Volpe shares why he believes Nissan's golden era is far from over. He has been with Nissan for over ten years. Excerpts follow. First of all, Oliver is in amazing shape this year. He seems to be controlling every single moment, apart from little mistakes, 99% of the time. He's really on top of everything. Our new car, unveiled this year [2025], is a big step forward in terms of the powertrain energy efficiency. This is key in Formula E races. On the team side, we have fine-tuned our process. We have become very agile, smart, and fast in processing information and making decisions. So we don't make as many mistakes as we have in the past. Nissan drivers Oliver Rowland (left) and Norman Nato (right) signing autographs for their fans (©Kenji Yoshida) We have selected a certain number of engineers working on electrification in Japan and moved them to France, where we are based for the car development. They also work with the rest of the team in Japan to ensure a constant connection between the two groups and an exchange of ideas. Proposals are made in both directions, from Nissan to Formula E, but also from Formula E to Nissan. Formula E manufacturers are very focused on the powertrain. There is a lot of R&D in this area and technical learning that can be exchanged between Formula E and electric vehicles. Therefore, the investments made in Formula E are relevant for Nissan's core business. While we don't have a direct impact on Nissan's business side, Team Nissan definitely helps the company in promoting our brand and its credibility when it comes to electric cars. Nissan is committed to Ambition 2030: our roadmap to electrify the majority of our vehicle lineup by 2030. At the moment, there are no obstacles to this program. If anything, it has become a public showcase of how much progress Nissan has made. Nissan technicians and engineers fine-tune the team's race car ahead of an upcoming match (©Kenji Yoshida) Just three years ago, the team was struggling, but now it's one of the top manufacturers in the championship. I hope this serves as a sign of what Nissan is still capable of, not only in motorsports but in our core business. We are indeed in a tough moment right now. But I'm sure the new CEO and management are putting together something very strong. I'm sure that 12 to 18 months from now, the company will be in a completely different situation. These political decisions come and go. When it comes to our core business, it's important to have a solid strategy to react and adapt accordingly. I believe Formula E is still in a phase of significant growth across all territories, including in motorsport as a whole. Because we are still in a growth phase, I don't think these decisions will have a major impact just yet. Unlike Formula One, which is more established and could be more directly affected, we're still expanding. These decisions might slow our growth slightly. But they won't stop our momentum. Author: Kenji Yoshida
Gulf Business
16-05-2025
- Automotive
- Gulf Business
Nissan gears up: Thierry Sabbagh on regional growth, Kicks and ARC wins
Image: Supplied Nissan in the Middle East reported a year-on-year increase in sales across the Middle East for the first nine months of its financial year ( April- December 2024) , a strong performance when compared to the brand's global performance and automotive headwinds. Thierry Sabbagh, DSVP and president Saudi Arabia, Middle East – Nissan, INFINITI, recently spoke to Gulf Business to discuss the key drivers behind the brand's regional success and star models, its future-focused ARC strategy, the evolving role of digital transformation, and how Infiniti is carving a space in the premium segment. Here are excerpts of the chat. Nissan recorded a 24 per cent year-on-year increase in sales between April and December. What were the key factors driving this growth, and how has the region responded? Why are you so optimistic about the future? I think it's important to put Nissan's performance in context. We've been present in this region for more than 70 years, and over that time, we've built not only strong partnerships but also significant brand equity. Across most Middle Eastern markets today, A few years ago, we set a clear vision focused on delivering novelty and relevance to this region. That means ensuring all the products we bring here are not only in demand but also tested under local conditions to guarantee top quality and engineering excellence. As part of our regional strategy, we launched what we call 'The ARC' — the bridge between Nissan NEXT and our Ambition 2030 plan. Under this, we committed to introducing five new SUVs to the region. This fiscal year alone, we launched three key models: The iconic Nissan The all-new Nissan Kicks, a bold compact SUV that generated strong buzz. The Nissan Magnite, a compact SUV that was originally introduced in India and is now gaining popularity here. We've committed to introducing two more new products in this cycle. So the first pillar of growth is definitely bringing the right products to market. Secondly, we've placed a strong emphasis on customer centricity — not just around the vehicles but the entire ownership experience. We've invested heavily in our digital platforms to ensure a seamless omnichannel experience, whether the customer journey begins online or in our showrooms. Third, customers are increasingly excited about advanced features. With the new Patrol, for instance, we introduced CCS2 charging support and Google built-in features for connectivity — technologies that resonate well with our buyers. And finally, we owe a lot to our partners in the region — highly professional, committed, and progressive — who deliver a premium customer experience across the board. Despite challenges globally, Nissan is performing strongly in this region. Why is the Middle East an outlier? There's no doubt the global auto industry has faced serious challenges in recent years — from chip shortages to logistics crises — and most OEMs have struggled. But Nissan has a clear global turnaround plan. And when it comes to this region, the outlook is bright. The automotive market in the Middle East has grown around 9.3 to 10 per cent. We're seeing supportive national visions from governments in the UAE and Saudi Arabia, which are accelerating development and investment. We've positioned ourselves to ride that momentum. Because we have a trusted brand, strong equity, and committed partners, our voice at the global table is getting louder. Nissan is making targeted investments in this region — bringing in the right products, features, and technologies to meet evolving customer needs. And it's not just about volume growth — though that matters. We're also focusing on customer satisfaction and brand strength. We actively measure both and have seen consistent improvements. When satisfaction and brand equity go up, volume tends to follow naturally. Can you share how Infiniti is performing, especially in the premium segment that's so important in this region? Absolutely. Nissan Motor Corporation is fully committed to Infiniti. It's a niche global brand, present in select markets like the US, China, and the Middle East. We began repositioning Infiniti a few years ago with the launch of the Infiniti QX60, which helped us re-establish the brand in the luxury SUV space. This year, we took a major leap forward with the launch of the all-new Infiniti QX80 — a complete redesign offering best-in-class features, from luxury design and technology to unmatched driving dynamics. We've seen strong traction for it in the region. Equally important, our partners have invested in upgrading their facilities to the Infiniti IREDI 4.0 standard, offering a premium experience that matches the expectations of luxury customers. Tell us about the progress on the key pillars of Nissan's ARC strategy. Here's what we've done on the three pillars: Product expansion — with a focus on SUVs, a segment that's growing rapidly. SUVs now make up 54 per cennt of our mix. The Nissan X-Trail has seen an 11 per cent increase in volume, and the Nissan Xterra has grown by 33 per cent. We're also strengthening offerings with models like the Kicks, Magnite, and Patrol. Market presence — We're expanding actively. For example, we've re-entered the Iraqi market, where our partners have invested in four new facilities, including three full 3S centres. Sustainability and future mobility — We're collaborating with regional governments to shape the future of mobility. We're aligning our regional strategy with Nissan's global sustainability commitments. Electrification and driverless tech are key focus areas. How is Nissan advancing these in the Middle East? Nissan was an EV pioneer — we launched the Nissan LEAF in 2010, making us the first global brand to commercialise EVs at scale. Globally, we've committed to being carbon neutral by 2050, and by 2030, the majority of our products will be electrified. In the Middle East, EV adoption is growing but still faces challenges, particularly range anxiety. Combustion engines continue to dominate, especially in areas where infrastructure is still maturing. That said, we are carefully studying market readiness. We're bringing in hybrid options and advanced connected vehicle technologies like ADAS (advanced driver assistance systems) and Google built-in, and we're laying the groundwork for wider EV adoption when the time is right. We're committed to bringing the right technologies at the right time — balancing innovation with customer readiness.
Zawya
13-02-2025
- Automotive
- Zawya
Nissan Formula E Team and Petromin forge landmark partnership to drive electrification and clean mobility in Middle East
Partnership will focus on development of Formula E program, helping to advance innovation on Formula E, and wider electrification in Saudi Arabia and beyond Reaffirms Nissan's commitment to Formula E as the pinnacle of EV engineering, and advancing the future of electric mobility more broadly Jeddah, Saudi Arabia – Following the announcement of a four-year global partnership in October 2024, Nissan Formula E Team and Petromin Corporation celebrated the signing ceremony today in Jeddah – coinciding with the first ever E-Prix to take place in the vibrant City. This collaboration marks a significant step towards electrification in the region, as both organizations work together in advancing electric mobility and sustainable transportation across Saudi Arabia and beyond. This partnership builds on an already strong existing relationship between Nissan and Petromin – the Middle East's leading electric mobility solutions provider – and centres specifically on its e-mobility arm, Electromin. By working closely with Nissan Formula E Team, Electromin reinforces its commitment to innovation and sustainability, supporting the growth of electric mobility in the region and aligning with Nissan's Ambition 2030 - aiming to empower mobility and beyond by addressing critical environmental, societal, and customer needs. Electromin's Global Visibility with Nissan Formula E Team As part of this collaboration, Electromin's branding will be prominently featured on Nissan's e-4ORCE 05 race cars, driven by Oliver Rowland and Norman Nato. The branding will also be visible on drivers' suits, team kits, and various marketing materials, amplifying Electromin's role in shaping the future of electric mobility. In addition, with the exciting introduction of Pit Boost set for the upcoming Jeddah E-Prix, Electromin's branding will appear on the team's Pit Boost charger and chief mechanic's overalls. As a company dedicated to developing electric mobility solutions, Electromin is delighted to see Pit Boost make its debut in the company home race. A Milestone for Nissan's Electrification Strategy Nissan strongly believes that the precision engineering and immense power of Formula E represents the pinnacle of EV technology and is the best possible platform to demonstrate the power of electric to fans across the world. But more than that, the sport serves as a testing ground for future mobility. By competing in the world's leading electric racing series, Nissan pushes the limits of EV technology, powertrain efficiency, and energy management – building on a legacy of over 80 years of motorsport history and over a decade of EV expertise. These innovations are then transferred from track to road, taking the very best in engineering today – put to the test on the heat and speed of the racetrack – and applying them to the cars on our roads tomorrow. This track-to-road transfer plays a key part in Nissan's ambitions under The Arc, with electrification at its centre. With strategic partnerships a key pillar of The Arc, this crucial collaboration with Petromin helps accelerate Nissan's vision to lead electrification and bring new electric experiences to customer, in alignment with Saudi Arabia's Vision 2030 and Nissan's Ambition 2030 roadmap. Nissan at the Jeddah E-Prix – Engaging the Community To celebrate the first-ever Formula E event in the historic, bustling city of Jeddah, and reinforce its commitment to electric mobility education, Nissan has organized several immersive community activations: Red Sea Mall Activation – An interactive experience where visitors can engage with Formula E technology, explore Nissan's electrification advancements, and learn about the future of mobility. CSR Initiative at UBT (University of Business and Technology) – A special career talk featuring a panel discussion with Nissan Formula E and industry experts, offering students insights into EV innovation, sustainable motorsports, and career opportunities in electric mobility. Executive Comments on the Partnership Tommaso Volpe, Managing Director and Team Principal, Nissan Formula E Team: 'Every time we race, we demonstrate our passion for performance and innovation. With Petromin, we have a partner that shares our commitment to excellence and electrification. This partnership contributes to the advancement of sustainable mobility, in line with Saudi Arabia's Vision 2030 and Nissan's Ambition 2030.' Kalyana Sivagnanam, Group CEO, Petromin Corporation: 'Our collaboration with Nissan Formula E Team is a reflection of our vision to lead the transition towards electric mobility. Formula E serves as a high-performance laboratory, accelerating advancements in EV technology. This partnership allows us to drive innovation and deliver real-world solutions that shape the future of mobility in Saudi Arabia and beyond.' Thierry Sabbagh, Divisional Vice President, President of Middle East, KSA and CIS – Nissan, Infiniti: 'This partnership is a testament to Nissan's deep-rooted commitment to electrification and innovation. As an automotive leader in the region, we recognize the critical role we play in driving the adoption of EVs. This collaboration with Petromin strengthens our ability to develop real-world solutions that bridge motorsport innovation with everyday driving experiences.' Nissan's presence in the Middle East dates back to 1956 - when the first Nissan Patrol was imported to Kuwait. This commitment to the region was reinforced in 1994, when Nissan was the first Japanese carmaker to establish a regional headquarters in the Middle East, in Dubai. Since then, our products have become part of the cultural fabric of society and cater to a wide range of customer needs, with our presence expanding to include a dedicated regional office in Saudi Arabia as we recognize the importance of this market. -Ends- About Nissan in Formula E Nissan made its all-electric racing debut in Season 5 (2018/19) of the ABB FIA Formula E Championship, becoming the first and only Japanese manufacturer to enter the series. In Season 7 (2020/21), Nissan announced its long-term involvement in Formula E and its commitment to the GEN3 era, which will run from Season 9 (2022/23) through to the end of Season 12 (2025/26) of the all-electric racing series. In April 2022, Nissan acquired the race team, with the Japanese automaker taking full ownership of its involvement in the ABB FIA Formula E World Championship. In June 2022, Nissan announced it would supply its Nissan EV powertrain technology to McLaren Racing for the entirety of the Formula E GEN3 era. On 28th March 2024, ahead of the first ever Tokyo E-Prix, Nissan announced its long term commitment to Formula E, becoming the first manufacturer to sign up for the GEN4 era, which runs until 2030, reinforcing its pledge to its Ambition 2030 electrification targets. For Season 11 of the ABB FIA Formula E World Championship, the Nissan Formula E drivers are Oliver Rowland and Norman Nato. Nissan races in Formula E to bring the excitement and fun of zero-emission electric vehicles to a global audience. As part of its goal to achieve carbon neutrality across its operations and the life cycle of its products by 2050, Nissan intends to electrify every all-new vehicle offering by the early 2030s in key markets. The Japanese automaker aims to bring its expertise in transferring knowledge and technology between the racetrack and road for better electric vehicles for customers. About Petromin Corporation Petromin Corporation is the leading mobility solutions provider in Saudi Arabia, renowned for delivering exceptional quality products and services across the automotive industry. Since its inception in 1968, Petromin has evolved into a trusted and innovative brand, offering comprehensive solutions that cater to every stage of the automotive journey. Initially recognized for producing the region's highest quality lubricants, Petromin has expanded its portfolio to encompass motor oil production, vehicle maintenance, repair services, car dealerships, and electric vehicle (EV) solutions. With a workforce exceeding 8,000 employees, Petromin proudly exports its products to over 40 countries across the GCC, Middle East, Africa, and Asia. Supported by an extensive network of service centers, Petromin provides fast, reliable vehicle maintenance services, ensuring unmatched coverage and customer satisfaction throughout the region. As a key player in the automotive sector, Petromin remains committed to driving innovation and supporting sustainable mobility initiatives. About Electromin Electromin, a subsidiary of Petromin Corporation, is a pioneering Saudi provider of smart mobility and new energy solutions, dedicated to helping businesses achieve their sustainability goals. As a leader in electric mobility, Electromin offers end-to-end solutions encompassing EV charging infrastructure, electric passenger and commercial vehicles, and Bus Rapid Transit (BRT) systems. With a strong commitment to education and community engagement, we empower customers and future leaders to embrace electrification. Driven by the core values of accountability, professionalism, and collaboration, Electromin delivers cost-effective, innovative solutions that support a smooth and sustainable transition to electric mobility. Electromin recently expanded its reach by partnering with Hindustan Petroleum Corporation Limited (HPCL) during the 2023 G20 Summit to advance EV infrastructure in India. This collaboration solidifies Electromin's role as a global leader in sustainable mobility. About Formula E The ABB FIA Formula E World Championship became the first global sport to be certified with a net zero carbon footprint from inception back in 2020, having invested in certified climate-protecting projects in all race markets to offset emissions from every season of electric racing. All cars in the championship are powered by electricity, with the series acting as a competitive platform to test and develop the latest in electric technology. The World's greatest manufacturers race against each other on street circuits and Formula E promotes the adoption of sustainable mobility in city centers in a bid to combat air pollution and lessen the effects of climate change.
Euronews
06-02-2025
- Business
- Euronews
AstraZeneca reports strong results boosted by promising trials
Pharmaceutical giant AstraZeneca announced its fourth quarter and full year 2024 earnings on Thursday. Product sales for the fourth quarter came up to $13.4 billion (€12.9bn), which was a rise of 18% in actual terms. Total revenue for Q4 2024 was $14.9bn (€14.4bn), which was a surge of 24%. Core earnings per share (EPS) came up to $2.09 (€2.0), which was a jump of 44%. For the full year 2024, product sales came up to $50.9bn (€49.1bn), an increase of 16%, whereas total revenue grew 18% to $54.1bn (€52.2bn). Core EPS advanced 13% to $8.21 (€7.9). These robust figures were mainly driven by a number of promising trials, with the company delivering nine positive high value Phase III studies during the full year 2024. AstraZeneca has seen rising demand for its drugs across all of its main markets in 2024 as well. This is expected to go a long way in helping the company grow this year. Pascal Soriot, the chief executive officer (CEO) of AstraZeneca, said in the fourth quarter and full year earnings report on the company's website: 'This year marks the beginning of an unprecedented, catalyst-rich period for our company, an important step on our Ambition 2030 journey to deliver $80bn total revenue by the end of the decade. 'In 2025 alone, we anticipate the first Phase III data for seven new medicines, along with several important new indication opportunities for our existing medicines. We are also investing in and making significant progress with transformative technologies that have the potential to drive our growth well beyond 2030, many of which have now entered pivotal trials.' Strong trials and pipeline continue to support AstraZeneca growth AstraZeneca's main departments saw increasing growth in 2024, with total revenue from Oncology rising 24%. Rare Disease total revenue grew 16%, whereas Cardiovascular, Renal and Metabolism (CVRM) total revenue jumped 20%. Respiratory and immunology total revenue also surged 25%, with vaccines and immune therapies (V&I) total revenue advancing 8% as well. Russ Mould, investment director at AJ Bell, said in an email note: 'AstraZeneca is in rude health. It has delivered a solid set of numbers, beating market expectations on both the revenue and earnings lines. 'A good run of Phase III trials during the year bodes well for converting the pipeline of drug developments into the next generation of products to sustain earnings growth. Having something else ready on the conveyer belt is paramount to the success of pharma companies as they face patent cliffs. 'China import-related tax issues won't derail the business. They're just noise and any fines will be small fry relative to the typical outflows from a company the size of AstraZeneca. Unlike GSK which delivered a lopsided performance thanks to weakness in its vaccines arm, AstraZeneca looks more balanced with gains recorded across all therapy areas. 'So far, so good, yet AstraZeneca needs to sustain this strong momentum if it is to achieve ambitious medium-term goals.'
The Independent
06-02-2025
- Business
- The Independent
AstraZeneca faces potential fines in China over import taxes
Drugmaker AstraZeneca has warned it could face a fine in China over possible unpaid import taxes, as it revealed strong sales of cancer drugs helped drive revenues higher. AstraZeneca said authorities in Shenzhen have said the unpaid taxes amount to 0.9 million dollars (£0.7 million) and that it could face a fine 'of between one and five times the amount of unpaid importation taxes' if found liable. It said the taxes related to its Imfinzi and Imjudo drugs, and that it is continuing to co-operate with Chinese authorities. AstraZeneca appointed a new president for its China business late last year after previous executive Leon Wang was arrested by Chinese authorities along with other employees. The Cambridge-based firm revealed that total revenues increased by 18% to 54.1 billion dollars (£43.3 billion) in 2024, compared with the previous year. It came on the back of a 24% rise in sales of oncology treatments, those used for cancer patients. Meanwhile, it saw pre-tax profits rise by 26% to a stronger-than-predicted 8.7 billion dollars (£6.97 billion) for the year. Pascal Soriot, chief executive of AstraZeneca, said: 'Our company delivered a very strong performance in 2024. 'This year marks the beginning of an unprecedented, catalyst-rich period for our company, an important step on our Ambition 2030 journey to deliver 80 billion dollars (£64.1 billion) total revenue by the end of the decade. 'In 2025 alone, we anticipate the first phase III data for seven new medicines, along with several important new indication opportunities for our existing medicines.' The company's results come days after it cancelled a planned £450 million investment in a vaccine manufacturing plant in Merseyside, saying the current Labour government failed to match the previous government's offer of support.
