The world’s second-largest economy accounts for just over a fifth of Nissan’s global sales. “Market conditions in China have become very difficult,” said Masashi Matsuyama, president of the Chinese subsidiary.
Nissan announced on Sunday that it will sell electric cars manufactured in China around the world, and announced that it has signed a new agreement with one of the largest Chinese universities, Tsinghua University.
The Japanese automaker is considering exporting its line of combustion engine vehicles and 100% electric and hybrid cars. Delivery in It is produced in China for global markets, as revealed by the Vice President of Nissan Motor Company and President of Nissan China, according to Reuters.
Masashi Matsuyama said in a press conference, his statements were published this morning in the North American daily New Haven Register: “Market conditions in China have become very difficult.” The world’s second-largest economy accounts for just over a fifth of Nissan’s global sales of about 2.8 million vehicles through October.
This move is similar to that of other global car brands such as Tesla, BMW or Ford, which are expanding exports of cars manufactured in China to try to reduce manufacturing costs in the country and increase factory performance.
The partnership signed with Tsinghua University provides for enhancing research and development in the field of automobile electrification. Makoto Uchida, CEO of Nissan, commented: “We hope that this cooperation will help us gain a deeper understanding of the Chinese market and develop strategies that better respond to the needs of customers in China.”
Between April and September, Nissan’s profits quadrupled to 1,666 million euros (or 269 billion yen) compared to the same period of the previous year, i.e. the first half of the last fiscal year. The Yokohama multinational’s sales rose 30% to 37.5 billion euros (6.06 billion yen).
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