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Renault sells stake in Chinese JV to partner Dongfeng Motor

PARIS (Business) – Carmaker Renault announced its decision to sell out its stake in a Chinese joint venture with Dongfeng Motor Corporation to Dongfeng. This move, Renault anticipates, would help maximise synergies with partner Nissan. Renault is one of the leading global automotive companies hit hard by the coronavirus with factory closures and a demand […]
Business

Nissan to resume production at Hubei plant this week

BEIJING- Japanese automaker Nissan intends on resuming partial production at the China Xiangyang and Zhengzhou plans with partner Dongfeng Group. Based in Hubei which is the epicentre of the coronavirus, is the Xiangyang plant. The other plant is in Henan province. Production recovery shall be based on the situation of supply chain and workers. (Photos […]
Business

Nissan sues Ghosn for damages, risks plunging to loss

TOKYO- Nissan Motor Co could be heading for its first quarterly loss in more than a decade, three company sources said on Wednesday, as news emerged the Japanese carmaker is seeking $91 million in damages from ousted former boss Carlos Ghosn. Japan’s second-biggest automaker and its alliance with France’s Renault have been thrown into disarray […]