Nissan Motor Co expects China to overtake the United States as the Japanese automaker’s biggest market in terms of vehicle sales by 2022, CEO Hiroto Saikawa said.
Nissan Motor Co Ltd reported a halving in Q3 operating profit, weighed by costs stemming from improper final inspection procedures at home, and higher discounts.
Nissan and its Chinese joint-venture partner aim to sell over 1.6 mn vehicles in China, up from the 1.52 mn vehicles they sold in the world’s biggest auto market.
Sales also rose 51 percent in China, a market where Mitsubishi sees sales more than doubling under its mid-term plan through 2019.
Nissan to invest 60 bn yuan in China over the next five years with its joint-venture partner as it seeks to become a top three automaker in the world’s biggest market.
Nissan is making use of automated driving technology to offer the latest in hands-free hospitality - self-driving slippers.
China will extend a tax rebate on purchases of NEV until the end of 2020, a boost for hybrid and electric car makers.
Japan’s Honda Motor Co and Nissan Motor Co are developing all solid-state batteries for electric vehicles (EVs).
Nissan Motor blamed a staff shortage for improper final inspections at its car plants for over 20 years, and said it would increase the number of inspectors.
Nissan Motor Co Ltd resumed most of the domestic car production that had been suspended in the wake of a scandal over uncertified technicians.
US dollar ends higher against rupee
Mumbai: The US dollar ended sharply higher against the rupee at 64.21/22 per dollar and the pound sterling also finished higher at Rs 90.34/36 per pound at the close of the Interbank Foreign Exchange (forex) market here today.
Following are the Interbank forex and RBI rates: (In Rs per unit) Unit Interbank RBI Reference US Dollar 64.21/22 US Dollar Rs 63.9097 Pound Sterling 90.34/36 Euro Rs 80.1683 Euro 80.18/20 Japanese Yen (100) 60.50/52
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