REVIVAL TIME

Nissan chalks out an exhaustive global turnaround plan, with a clear focus on India as well

- ABHAY VERMA

Nissan has been in troubled waters for the past few months, but the Japanese marque has chalked out a clear plan to get back on the gas to turn things around. At an exclusive event held at its global headquarters at Yokohama in Japan, Nissan addressed members of the press from around the world, including TURBOCHARGED, announcing plans. There’s also a change of guard at Nissan - Ivan Espinosa is now Representative Executive Officer, President and CEO, and replaces Makoto Uchida. Prior to his appointment as CEO, Espinosa was the Chief Planning Officer and has been working with Nissan since 2003. The 46-year-old Mexican native says he is keen on cutting product development time down for new models from the current 55 months to 37 months to boost productivity, and is known for his passions for cars. Nissan could also look at cutting jobs globally and even shutting down manufacturing units.

Days after the event Nissan also announced it is selling its stake in the joint production facility it has with partner Renault in Chennai in India. Nissan held 51 percent stake and is selling all of it to Renault to reconsolidate businesses, though it will continue to use the facility for manufacturing its cars.