Nissan announced on Wednesday that it would sell a 1.54% stake in German car giant Daimler for around € 1.15 billion ($ 1.4 billion) following a similar move by French partner Renault.
Japanese automakers are trying to make a profit again and recover from the reputational decline caused by the resignation of former fugitive leader Carlos Ghosn.
Nissan said the sale could “further strengthen and strengthen its business competitiveness, including investments to promote electrification.”
Industrial cooperation with Daimler remains unchanged, “the two groups continue to work together in several areas,” the company added.
In March, Renault announced the sale of its entire 1.54% stake in Daimler after a French carmaker posted a record loss in 2020.
Nissan has revised its full-year forecast upward, and its net loss for the fiscal year ended March was 530 billion yen ($ 4.8 billion), which was lower than the previous forecast.
Nissan, which maintains partnerships with Renault and Mitsubishi, will announce its annual financial results next week.
Nissan To Sell Entire Daimler Stake For $1.4 Billion Source link Nissan To Sell Entire Daimler Stake For $1.4 Billion