Nissan, which yesterday announced a net loss of 671 billion yen (RM27.1 billion) for the year that ended in March, has revealed a four-year restructuring plan in which it hopes to achieve a return to profitability by the end of fiscal 2023.
The plan will involve a series of cost-rationalisation and business optimisation measures, which will include streamlining unprofitable operations and surplus facilities. With the previously announced shuttering of its manufacturing operations in Indonesia, the company says it will now focus on Thailand as its production base for the ASEAN region.
It has also announced its intention to close its Spanish assembly plant in Barcelona, which if it goes through will result in the loss of 2,800 jobs. Elsewhere, the automaker will be exiting the South Korean market and will end the Datsun brand presence in Russia. It was also mentioned that there are plans to streamline operations in some ASEAN markets, but no specifics were indicated.
The plant closures will also see global production being reduced by 20% to around 5.4 million units a year, and the product line-up will also be streamlined by 20%, being trimmed from 69 to less than 55 models. The global workforce is also expected to be reduced, with the most recent report indicating that there could be up to 20,000 job cuts, making for a 15% reduction of its 139,000 global workforce.
This doesn’t mean that there won’t be new models – plans are afoot to introduce 12 models in the next 18 months. Some of these were teased by the company yesterday, and models inclued the 400Z, Navara facelift, X-Trail, Ariya, Qashqai, Note, Frontier and Terra.
Nissan said that it will be focusing on global core model segments including C and D segment vehicles, EVs as well as sport cars. Electrification will continue to be a core component of its strategy, the company stating it plans to expand its presence on this front and sell more than a million electrified vehicles by end of 2023.
In Japan, the company is aiming to launch two more EVs and four more e-Power vehicles, increasing its electrification ratio to 60% of sales. Other tech will also get a push – its ProPilot advanced driver assistance system is set to be introduced in more than 20 models in 20 markets, the aim being to equip more than 1.5 million vehicles with the system annually by the end of 2023.
The automaker will also work closely with its partners in the Renault-Nissan-Mitsubishi Alliance to share resources, including production, models, and technologies, and will be the reference for the alliance in Japan, China and North America.
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After epic fail under Ghosn, Renault in good hands
Lolwhut? If saving the company from near bankruptcy is epic fail, I wonder what does the current reality of Nissan facing another round of bankruptcy would translate to your logic. No wonder some M’sians choose to run away from their saviours and believed in empty promises inside a crocs mouth.
Most looking forward to is the 400Z.
Everybody is moving towards EV. But our Proton is still sleeping. Iriz EV was shown in 2013. 7 years ago. Then Proton took few billion ringgit from Gomen cause they said must do extra research.
Pay back or give the Iriz EV
Same L0rrr on Oct 14, 2014 at 1:35 pm
In 2009, they said it is coming 2012
In 2012, they said it is coming 2014
In 2014, they say it is coming 2017
In 2017???
Typical Proton Sendiri Cakap Sendiri Syok!
Copy paste: “Better worry about your future. Nissan is laying off workers, and the first to go are non-essential and underperforming sales trolls like you”
Lolwhut? Your Nissan sales performance is epic fail and you still trying to divert attention. Better pay back the Rm180mil you falsely declared to Kastam lahh.
Don’t talk about other people. Let’s talk about Perodua and the Kenari Hybrid you had promised way wayyyyyyyyy back in 2003. 17 years later and we are still waiting for it. Perodua took few billions ringgit calling themselves national carmaker but they are just an assembler in reality.
Pay back or give the Kenari Hybrid right now.
Modenas had an electric Kapchai already many years ago: Nobody bought it, so they stopped production.
Why shall Proton offer a car that nobody will buy?
Your Nissan is nearing towards NISAN and you still don’t learn, continue to talk about others.
The golden rule of advertisement: If you had to talk about your competitor, you’ve already lost the marketing fight. So continue to trashtalk Proton, you are only helping to increase their business.
All car companies reduce production but Proton still maintain production and so many left in the backyard under the hotsun cannot sell
Bad management
Better worry about your future. Nissan is laying off workers, and the first to go are non-essential and underperforming sales trolls like you
Better worry about our future. Japanese Man Collected 4,500 Ciggie Butts Found On Streets Of Putrajaya
More like a batu nisan than nissan now.
Are the ETCM people still asleep?
Their latest teaser video of their upcoming car is rather disappointing to me… no proper four door sedan.