- A Nissan official reportedly admitted the brand has 12-14 months to survive without a new investor.
- Renault is decreasing its share in the Japanese carmaker
- Former Nissan CEO Carlos Ghosn predicted a disguised takeover from Honda last August.
Nissan Motor Corporation is in search of a new anchor investor as the company grapples with what it has labeled “emergency mode” during a press conference earlier this month. Measures include cutting 9,000 jobs, slashing 20% of its global manufacturing capacity, selling off its shares in Mitsubishi, and delaying the launch of new models. According to one Nissan official, the brand may have just 12 to 14 months to turn things around and ensure its survival.
As all of this is taking place, Renault is selling Nissan shares. It owned up to 46 percent of the Japanese brand for a time. Now, it’s below 40 percent and will continue to fall. At the same time, Honda is finalizing a deal with Nissan to co-develop electric vehicles.
More: Nissan Slashes 9,000 Jobs, Sells Mitsubishi Shares, May Delay Some Of The 30 New Models Planned
According to the Financial Times, at least two unnamed senior Nissan officials have confirmed that the brand is looking for a new anchor investor. “We have 12 or 14 months to survive”, one of them told FT. “This is going to be tough. And in the end, we need Japan and the US to be generating cash”, the senior official added. That said, it’s plausible that either Honda could step in to be that anchor investor or even that Renault could sell Nissan shares directly to the rival brand.
Remember What Carlos Ghosn Said?
Of course, all of this might have you remembering a story from August. That’s when the joint venture between Honda and Nissan was first announced. It’s also when former Nissan CEO Carlos Ghosn made a rather bold prediction.
“I can’t imagine for one moment how it’s going to work between Honda and Nissan unless it’s a takeover, unless it’s a disguised takeover by Honda of Nissan and Mitsubishi with Honda in the driver’s seat,” Ghosn said at the time. “It’s going to be a takeover, a disguised takeover.”
More: Honda’s New Solid-State Battery Tech Could Double EV Range By 2030
That possibility still seems to be on the table. Whether Nissan has multiple options for its survival or only a few, being in “emergency mode” is far from an enviable position. We’ve reached out to Nissan for comment on the report but have not yet received a response.
