Nissan CEO Makoto Uchida faces mounting pressure to revive the automaker after missed hybrid opportunities and falling sales in key markets. Major cuts and restructuring plans are underway.
In October, Nissan CEO Makoto Uchida warned managers of worsening finances, citing weak sales in North America and China. Questions arose about missed opportunities, particularly the absence of hybrids in the U.S., a market now demanding them.
Uchida, under pressure to turn around the struggling automaker, has pledged drastic cuts to jobs, production capacity, and costs while halving his pay.
Nissan’s challenges stem from management missteps, including betting solely on EVs, neglecting hybrids, and production issues with the Ariya EV. Once a pioneer with the Leaf, Nissan now lags behind rivals like Tesla and BYD, facing declining sales and market share. Activist investors have taken stakes, adding to the pressure.
Uchida is restructuring, planning 34 hybrid and EV launches by 2030, and considering factory closures in China and Mexico.
Despite criticism of his strategy, Uchida remains committed to his role, aiming to stabilise Nissan amid industry disruptions.
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Nissan Motor announced major cost-cutting measures, including the elimination of 11,000 additional jobs and reduced production, as the automaker faces declining profits and tough market conditions.
Nissan plans to invest an extra $1.4 billion in China by 2026 as it launches 10 new energy vehicles, aiming to recover from declining sales and catch up with faster-moving local competitors.
Nissan Motor Co. is reportedly considering a production shift that would see some U.S.-bound vehicles manufactured domestically in the United States as early as this summer, according to a Nikkei report on Saturday.
Nissan is set to unveil a major shake-up in its top management next month as part of an accelerated turnaround plan, sources familiar with the matter said on Thursday.
A long-running investigation has suggested that the street artist known as Banksy may be legally named David Jones. A report indicates that Jones was previously known as Robin Gunningham, a name long associated with Banksy, before legally changing his name several years ago.
A widening conflict involving Iran, the United States and Israel has triggered escalating military strikes across the Middle East, disrupted shipping through the strategic Strait of Hormuz and raised concerns over global energy supplies. This live report tracks the latest developments.
Iran says it is open to talks with countries seeking safe passage through the Strait of Hormuz - disrupted by recent attacks - as Israel continues to launch wide‑scale strikes on Iranian infrastructure in the west. This live report tracks the latest developments.
North Korea fired what appeared to be a ballistic missile on Saturday (14 March), Japanese and South Korean officials said. The development comes amid the joint annual U.S.-South Korea "Freedom Shield" military drills and South Korean Prime Minister Kim Min-seok's visit to Washington.
Ukrainian drones struck an oil refinery and a key port in Russia’s southern Krasnodar region overnight (13-14 March), local authorities said, causing injuries and damage. In separate action, Russian air attacks on Ukrainian territory killed and wounded civilians near Kyiv, officials reported.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
The European Commission sees no immediate impact on the European Union's security of oil supply from the escalating conflict in the Middle East, it said in an email to EU governments, seen by Reuters on Monday (2 March).
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