The arrangement, which will reportedly operate under a holding company, could also involve Mitsubishi Motors
Nissan is currently in financial hot water. Last month, the automaker announced its half-year net earnings were down more than 90% year over year, and cut its yearly profit forecast by roughly 70%. Nissan CEO Makoto Uchida also took a voluntary 50% pay cut. A senior official told reporters at that time the company could be headed for bankruptcy within 12 to 14 months.
There are plenty of details to watch on this story, including how much stake each automaker may end up with in the holding company; and whether the Trump administration could throw a wrench in the works. Watch this space.
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