Nissan's Layoffs to Skip India; New SUVs Coming

Nissan Motor Corp.'s 15% global layoffs to shore up its fortunes after a failed merger with Japanese peer Honda Motor Corp. will not impact its business in India, where the carmaker aims to scale up sales by more than fourfold over the next two years.

- Ayaan Kartik

NEW DELHI: Nissan Motor Corp.'s 15% global layoffs to shore up its fortunes after a failed merger with Japanese peer Honda Motor Corp. will not impact its business in India, where the carmaker aims to scale up sales by more than fourfold over the next two years.

"There will not be any disruption to our teams here or our product plans in the country," Nissan India managing director Saurabh Vatsa said on Wednesday during a virtual press meet. "We are on track to introduce new products and scale up growth in the market."

The maker of Magnite, a five-seater sport utility vehicle (SUV), plans to introduce three new car models in the next two years and increase sales outlets from 159 to 180 in the ongoing financial year.

Optimism about the world's third-largest automobile market contrasts with Nissan's global chief executive Ivan Espinosa's job and cost cuts to protect profits.