The Japanese company sold a 1.5% stake in the German group, the same way Renault – another member of the trilateral coalition – did in March.
Renault and Nissan exchanged stakes with Daimler a decade ago to strengthen their tripartite partnership. The partnership continues, as Daimler and Renault said last year, but some close sources say the plans are no longer about money and that cross-stake ownership is no longer necessary.
The stock price is currently around $ 85, said an investment book manager. At this level, Nissan can earn about $ 1.2 billion from the above shares.
The alliance between Daimler, Nissan and Renault offers a special product, the Mercedes X-class luxury pickup, which is based on the Nissan Navara pickup. However, Mercedes killed the X-class in 2020 after two years of dismal sales.
Nissan’s sale of shares in Daimler comes just weeks after it announced production cuts to cope with chip shortages. Specifically, Nissan factories in Kyushu, Japan, will stop production for eight days from May 10-19, affecting models like the Serena and X-trail.
Two other domestic assembly plants will cancel the night shift for 15 days, May 10-25, and the factory in Tochigi, eastern Japan, will be shut down for 10 days, but there’s no time yet.
“Due to a lack of chips, Nissan needs to adjust production and is taking the necessary action to ensure recovery,” a Nissan representative said in April.
America – England (according to the Reuters)