Automaker Nissan expands research ties in China as part of bid to regain market share
ABC News
Nissan Motor Co. is expanding its research ties with a leading Chinese university as it and other foreign car companies try to claw back market share in the important Chinese market
BEIJING -- Nissan Motor Co. is expanding its research ties with a leading Chinese university as it and other foreign car companies try to claw back market share in the important Chinese market.
The Japanese automaker announced Sunday that it would launch joint research next year with Tsinghua University on reaching Generation Z — defined for this project as those born between 1995 and 2009 — and on the social responsibility of automakers in battery recycling, charging stations and other electric vehicle-related issues.
The major auto companies were caught flat-footed by a boom in electric vehicles in China that has given rise to new Chinese competitors that have gobbled up market share at home and are now moving into Southeast Asia, Europe and other overseas markets. Nissan’s sales in China plunged 34% in the six months from April to September compared with a year earlier.
“Market conditions in China have become extremely tough,” Masashi Matsuyama, the head of Nissan's Chinese investment company, said at a news conference in Beijing.
Nissan plans to develop 10 further new-energy vehicles for the Chinese market, four under its own brand by 2026 and the other six for Chinese joint venture partners. The company is aiming to launch the first Nissan-branded model in the second half of next year.
U.S. applications for unemployment benefits fell last week, remaining in the same range of recent years despite a broadly tepid labor market
Uber says it will invest up to $1.25 billion in Rivian Automotive to help launch up to 50,000 robotaxis
Kuwait says a drone attack targeting an oil refinery has sparked a fire
The National Retail Federation, the nation’s largest retail trade group, is forecasting annual retail sales will grow at a faster clip this year than last year, citing consumers’ resilience despite lots of economic volatility
U.S. wholesale prices came in hotter than expected in February
U.S. wholesale prices came in hotter than expected in February
Macy’s profit rose more than Wall Street expected in the fourth-quarter, and the retailer delivered another increase in comparable sales Wednesday
Iran's judiciary says it has executed man for allegedly spying for Israel's Mossad as war rages
Japan has recorded a trade surplus of 57.3 billion yen, or $360 million, in February, according to government data, reversing from a deficit a month earlier
The Iran war has rattled the global flow of oil, with steeper fuel costs already straining households worldwide
The Wisconsin state Senate has passed a $133 million package to combat contamination from forever chemicals
Colombia says it is seeking a license from the U.S. Treasury Department to invest in several electricity and natural gas ventures in Venezuela
The Iran war has scrambled the Federal Reserve’s outlook on inflation and unemployment and will likely further delay interest rate cuts this year, putting off any relief for consumers struggling with high borrowing costs for home and car purchases