Rumour: Nissan to pull back from Europe

According to a media report, Nissan will be pulling back from Europe to focus on other markets like the USA, China and Japan.

Nissan is said to announce its "operational performance plan" on May 28, 2020. This comes following the dramatic exit of Carlos Ghosn from the helm of Nissan. In addition to reducing costs, the company is also aiming to rationalise operations, re-prioritise and refocus its business.

The report also sates that the company aims to cut competition and expand cooperation with its partners. Mitsubishi will focus on plug-in electric hybrid vehicle development in Asian markets outside China and Japan, while Renault is expected to focus on EV technologies and Europe.

The move is also believed to free up resources for the company, which could be invested in products and technologies for the USA, China and Japan. It is also expected to reduce R&D costs, which could be diverted into core markets and core products.

Source