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Japan's Nissan announces the sale of its entire stake in Daimler for $ 1.4 billion

2021-05-05T20:41:42.632Z

Tokyo-SANA, Japan's Nissan Motor Company announced today that it has sold its entire 1.54 percent stake



Tokyo-Sana

The Japanese car maker Nissan announced today the sale of its entire 1.54 percent stake in the giant Daimler Group for cars, for an amount of 1.15 billion euros, equivalent to 1.4 billion dollars.

The French Press Agency quoted the company as saying in a statement that its industrial cooperation with Daimler will not change, adding that "the two groups continue to cooperate in several fields."

The Japanese automaker is trying to make profits again and recover from the damage to its reputation after the departure of its former president, Carlos Ghosn, and this step would allow it to "enhance its commercial competitiveness, including making investments in electric cars."

Last March, Nissan's partner, Renault, sold its entire stake in Daimler after the company recorded a record loss in 2020 due to the Corona epidemic.

Nissan, which has maintained its partnership with Renault and Mitsubishi, is due to announce its annual results next week.

Source: sena

All business articles on 2021-05-05

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