Latest news with #Nissan
Hans India
an hour ago
- Automotive
- Hans India
No plans to exit, affirms nissan India head
New Delhi: Automaker Nissan has no plans to exit the Indian market, a top company official said on Wednesday, rejecting reports speculating on the company's future in the country. The company on the contrary plans to introduce three new products in the Indian market by early part of 2027 and also aims to add 20 more dealerships this year. In a virtual press conference, Nissan Motor India MD Saurabh Vatsa said the company aims to have a multi-product portfolio and aims to sell one lakh units each in the domestic and export markets this fiscal. 'It is really important that I must put to rest any speculation that Nissan is planning to exit India and Renault Nissan Automotive India Pvt Ltd (RNAIPL) stake dilution is an indication of that,' he stated. On March 31, this year, Renault announced to acquire partner Nissan's 51 per cent stake in their Indian manufacturing joint venture -- Renault Nissan Automotive India Private Ltd (RNAIPL) -- for an undisclosed noted that Nissan had a very long stint of around 60 years in India. 'It's very important to understand that we are absolutely well entrenched in India... our production plans, our future capacity all are in place. They are all secure, nothing is out of sync, we are here and we are here to stay,' he noted. He noted that the company will launch a seven-seater B-segment MPV in the first quarter of 2026 calendar year, followed by a C-SUV five- and seven-seater by early 2027. While acknowledging that few dealer parties have left the brand, Vatsa noted that the company has been bringing in new sales partners. 'We currently have around 160 sales outlets, we plan to end the year at 180 dealerships,' he said. Nissan said its Magnite SUV will now be available with a government-approved CNG retrofitment kit. The complete retrofitment will be available at competitive additional price of ₹74,999, the automaker said. The rollout of the CNG kit fitment will be done in a phased manner across the country, it said.
Japan Times
2 hours ago
- Automotive
- Japan Times
Factory that symbolised Nissan's rise may become victim of its decline
When Nissan's Oppama plant opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of the company's global ambitions. Sixty-four years and millions of cars later, the storied plant now faces possible closure as Nissan sinks deeper into crisis. New Chief Executive Ivan Espinosa unveiled sweeping cost cuts this month that included plans to shed 15% of the global workforce and close seven factories worldwide. Battered by declining sales in the United States and China, Nissan faces a mountain of debt repayment and is scrambling to upgrade its aging lineup of vehicles. The Japanese automaker hasn't said which of its 17 plants will be closed. Oppama, in the port city of Yokosuka south of Tokyo, is being considered, as is another smaller plant in Japan. Factories in South Africa, India, Argentina and Mexico could also be closed.
Kyodo News
3 hours ago
- Business
- Kyodo News
Kyodo News Digest: May 29, 2025
KYODO NEWS - 29 minutes ago - 09:19 | All, World, Japan The following is the latest list of selected news summaries by Kyodo News. ---------- Rubio says U.S. to "aggressively" revoke visas of Chinese students WASHINGTON - The United States will "aggressively" revoke visas of Chinese students, including those with ties to the Chinese Communist Party or studying in sensitive fields, Secretary of State Marco Rubio said Wednesday. In a statement, Rubio also said, "We will also revise visa criteria to enhance scrutiny of all future visa applications from the People's Republic of China and Hong Kong." ---------- Nissan to raise 1 tril. yen by issuing debt, selling assets: source TOKYO - Ailing Nissan Motor Co. is planning to raise around 1 trillion yen ($7 billion) by issuing corporate bonds and selling assets to secure funds as it approaches a massive bond redemption, a company source said Wednesday. Nissan and its affiliated companies face the redemption of roughly 780 billion yen in corporate bonds during the current fiscal year through March. It also requires funds to cover costs related to plant closures and other restructuring measures. ---------- Japan eyes closer ties with Philippines, Cambodia via security aid TOKYO - Japanese Foreign Minister Takeshi Iwaya expressed eagerness to enhance ties with the Philippines and Cambodia through security aid as he met separately with their top diplomats in Tokyo on Wednesday, in the face of China's growing influence in Southeast Asia. On the economic front, Iwaya agreed with Enrique Manalo from the Philippines to further cooperate in infrastructure development, while he underscored the importance of enhancing the multilateral free trade system with Cambodia's Prak Sokhonn, the Japanese Foreign Ministry said. ---------- Japan, U.S., Australia to agree to set up defense consultation body TOKYO - The defense chiefs of Japan, the United States and Australia are expected to agree to establish a senior official-level consultation body to discuss their forces' collaborative operations at their meeting later this week in Singapore, Japanese government sources said Wednesday. The planned talks on the fringes of the three-day Asia Security Summit, known as the Shangri-La Dialogue, in the city-state from Friday will come as the three Indo-Pacific democracies have become more vigilant against China's maritime assertiveness in the region. ---------- China removes remaining buoy from Japan's exclusive economic zone TOKYO - China has removed a buoy it had installed inside Japan's exclusive economic zone off a remote southwestern island, the Japan Coast Guard said Wednesday, meaning all such objects that had irked Tokyo have been cleared from its EEZ. The Japanese government said in December that it spotted a new buoy south of Yonaguni Island, which is located about 100 kilometers from Taiwan. But on its website on Wednesday, the coast guard referred to the buoy east of Taiwan as "nonexistent." ---------- BOJ's unrealized bond loss widens to record 28 tril. yen at end-March TOKYO - The Bank of Japan said Wednesday its unrealized loss on its Japanese government bond holdings widened to a record 28.62 trillion yen ($198 billion) at the end of March, reflecting rising yields as the central bank continued interest rate hikes. The loss tripled from an unrealized loss of 9.43 trillion yen a year earlier. The BOJ has raised its key policy rate three times since March 2024 when it shifted from unorthodox monetary easing toward monetary policy normalization. ---------- Japan gov't vows reserve rice supply to countryside amid price spike TOKYO - The government on Wednesday vowed to deliver lower-priced stockpiled rice it releases as a counter to surging prices more broadly and stably to consumers in rural areas, after it suspended taking orders from major retailers to make room for smaller ones. About 70 major retailors made requests to buy reserve rice from the farm ministry, bringing the total to over 200,000 tons, or about two-thirds of the 300,000 tons up for sale, a day after the launch of a new release scheme on Monday. ---------- Int'l short film fest kicks off in Tokyo with focus on diversity, AI TOKYO - One of Asia's largest film festivals kicked off Wednesday in Tokyo, with this year shining light on tales about diversity and the emergence of generative artificial intelligence. Japanese actor and festival president Tetsuya Bessho and guests including South Korean actor Oh Man Seok from the hit drama series "Crash Landing on You" took to the stage at an opening ceremony of the Short Shorts Film Festival & Asia, which showcases five categories whose winners can qualify for next year's Academy Awards. Video: Osaka Expo-designated Indonesian National Day celebrations
Kyodo News
3 hours ago
- Automotive
- Kyodo News
Nissan to raise 1 tril. yen by issuing debt, selling assets: source
KYODO NEWS - 9 hours ago - 23:59 | All, Japan Ailing Nissan Motor Co. is planning to raise around 1 trillion yen ($7 billion) by issuing corporate bonds and selling assets to secure funds as it approaches a massive bond redemption, a company source said Wednesday. Nissan and its affiliated companies face the redemption of roughly 780 billion yen in corporate bonds during the current fiscal year through March. It also requires funds to cover costs related to plant closures and other restructuring measures. The source said the fund-raising plan was explained to directors by executive officers. The company aims to secure a portion of the funds by around the summer. In addition to issuing debt, Nissan is considering selling real estate and stocks it holds and may seek loans guaranteed by a British government-linked institution, the source said. Japan's third-biggest automaker by volume, which has been grappling with poor sales in the United States and China, is stepping up its streamlining efforts after logging a net loss of 670.90 billion yen for fiscal 2024. The company said on May 13 it will shut seven vehicle plants and cut 20,000 jobs globally. Related coverage: Former top execs of struggling Nissan got $4.5 mil severance pay Honda to cut EV investment plan by 30% to 7 tril. yen FOCUS: Japan carmakers focus on popular models to soften U.S. tariff impact
Yahoo
3 hours ago
- General
- Yahoo
A walk in memory of Hampton woman killed by suspected drunk driver
HAMPTON, Va. (WAVY) — Days after 35-year-old Latonya Foster was killed by a suspected drunk driver in Hampton, the man who was an ear witness to the crime was emotional as he spoke on behalf of her parents. Hampton family mourns life taken by driver suspected of DUI 'It just doesn't make any sense; this is not fair,' said Johnathan Lynch. 'She was so beautiful; we're not just talking about the look of her. We're talking about who she was as a person.' Three months later, the tears continue to flow. April Smith said she was Foster's best friend. 'She was the most selfless person — always there for you, always a phone call away,' Smith said. 'She always showed up.' Foster's last phone call, a call with Lynch, took place during the early morning hours Feb. 22 as Foster took the Settlers Landing road exit on Interstate 64 East. According to police, Theresa Tann was driving her Ford Explorer up the ramp in the wrong direction. 'I heard a breath, and then I heard people knocking on the window, and I'm calling her name like 'Tonya, Tonya,' said Lynch in the interview earlier this year. Her loved ones shared pictures of the remains of Foster's Nissan after a head-on collision. The suspect was treated for rib injuries and was charged with DUI manslaughter. With memories of Foster close to their hearts, loved ones and supporters will gather at Buckroe Beach next Saturday for what they call a . 'For those who don't have nowhere to turn, for those who need therapy, help, whatever it is that you need, just coming together as a community,' Smith said. 'We just invite everybody to come out, take part, whether you knew her personally or simply just believing in a cause, we just hope to reflect on the sweetness you brought to the community, to people's lives.' The walk takes place two days before the suspect, Tann, is scheduled to face a judge. 'We need justice and my friend needs justice,' Smith said. 'And even her going to jail doesn't bring my friend back, doesn't bring the sister back, the aunt back. I feel that the more that we speak out on it, the more awareness that we raise.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
