Fiat Chrysler said it has abandoned its US$35 billion merger offer for Renault, blaming French politics for scuttling what would have been a landmark deal to create the world's third-biggest automaker.
Japanese car giant Honda is expected to announce the shutdown of its plant in south west England in 2022, putting 3,500 jobs at risk, media reports said on Monday. The car manufacturer is to announce the closure of its Swindon plant on Tuesday, according to Sky News, but still keep its European headquarters in nearby Bracknell.
Japanese carmaker Nissan is cancelling plans to make the next model of its X-Trail sports utility vehicle in Britain, less than two months before the country is due to leave the European Union, broadcaster Sky News said on Saturday.
Japanese authorities have arrested Carlos Ghosn, chairman of the Nissan Motor Co., Renault SA and Mitsubishi Motors Corp., for allegedly understating his personal income on financial statements thus violating the country's financial law, it was reported Monday.
Britain will not get a Brexit deal better than the current single market, Japan’s ambassador to the UK has said. Koji Tsuruoka, who took up the role just over a fortnight before the referendum in June 2016, said Japanese firms are watching negotiations and will want to continue to be located in the single market after next March.
Japan Nissan's top executives travelled to Resende, Rio do Janeiro state on Tuesday to inaugurate a complex designed to turn out 200,000 vehicles and engines per year with the goal of capturing 5% of Brazil's new car market by 2016.
French car maker Renault is considering the complete closure of factories because of the dire state of the European automobile market, the company's chief operating officer was quoted on Sunday.
Brazil's government wants Mexico to impose quotas on its own auto exports to the South American nation to ensure the total value does not exceed 1.4 billion dollars over the next three years, the development, industry and foreign trade ministry said.
Nissan Motor Co CEO Carlos Ghosn said Japan faces a “hollowing out” of its industrial base should the government fail to take steps to counter the Yen’s rise. Ghosn statements could also be interpreted as a subtle message since Brazilian manufacturing faces problems with a too strong Real.
French automaker Renault will invest 285 million dollars to expand its factory in Brazil and boost production as part of a sales offensive in Latin America's largest economy, Chief Executive Carlos Ghosn announced on Wednesday.