Nissan becomes the latest global automaker to rely on China for help as it looks to turn things around. The Japanese automaker is facing an uphill battle as it plans to cut about 20,000 jobs while closing several plants as part of its recovery plan.
That should wonders for its stock price.
Yesterday, we learned Nissan has already drastically cut production plans for the next-gen LEAF, a cornerstone of the company’s comeback plan.
A Nikkei report claimed Nissan was slashing production by more than half from September through November due to a battery shortage.
It looks like Nissan is now turning to China, becoming the latest in a string of automakers looking to use Chinese tech or manufacturing methods to keep pace.
Tatsuzo Tomita, Nissan’s chief of total delivered cost transformation (TdC), told reporters on Wednesday (via Reuters ) that the company has “gained access to Chinese-style ways of working.” Now, the company is working to apply what it has learned to gain a competitive edge globally.
Nissan follows Toyota, which is now sourcing Chinese parts to build EVs for global markets from its production base in Thailand. Volkswagen, Mercedes-Benz, BMW, Audi, Ford, and several other major global automakers have announced similar plans to either learn from or use tech from China to apply on a worldwide scale.
The above suggests, to me anyway, that China has the premier EV automaking ability.
Legacy automakers are playing catch-up.