Nissan's top executive gave the company about a year to survive

Nissan is looking for an anchor investor to help it survive the next year, as Renault is reducing its stake in the Japanese company. This was reported on November 26 by the Financial Times newspaper with reference to a top manager close to Nissan.

The need for a long-term investor has arisen because Renault is reducing its stake in Nissan by selling shares as part of the restructuring of its 25-year alliance with the Japanese manufacturer. The company expects to be able to attract a bank or insurance group as a shareholder,

"We have 12 or 14 months left to survive," the newspaper quoted a top executive as saying.

According to the newspaper's sources, Nissan does not rule out the possibility of selling some of its shares to Honda, with which it entered into a partnership in the field of electric cars this year. Renault previously owned 43% of Nissan, while the latter owned only 15% of the French concern. Last year, Renault reduced its stake in Nissan to 36%.

In early November, Nissan announced that it would reduce global production capacity by 20% and cut 9 thousand jobs, as well as sell part of its stake in Mitsubishi. The reason cited was the dire situation facing the company "is taking urgent action to improve performance and create a more flexible and sustainable business that can quickly adapt to market changes."

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Experts expect model cuts and the departure of some brands in 2025

Earlier on Wednesday, it was reported that the restart of the former Toyota plant in St. Petersburg will not take place in 2024 as previously announced. The information about the postponement was confirmed by Alexei Yakovlev, deputy head of the St. Petersburg Committee for Industrial Policy, Innovations and Trade.