Both Nissan and Renault exchanged shares with Daimler nearly a decade ago to strengthen their industrial partnerships. As the companies continued to work together, it became clear that mutual subsidiaries were no longer required.
That’s why Nissan announced it would sell its 1.5 percent stake in Daimler for $1.2 billion. The partnership between Daimler and the Renault Nissan Alliance resulted in the creation of the Mercedes-Benz X-Class, which is based specifically on the global Nissan Navara pickup. However, Mercedes-Benz shelved the X-Class last year after two years of inanimate sales.
Confirmation that Nissan is selling its stake in Daimler comes just weeks after the automaker announced a series of production cuts in response to an ongoing semiconductor shortage.
Nissan, as it is known, will close its factory in Kyushu for eight days from 10 to 19 May. In addition, the manufacturer will cancel the night shift at the Oppama and Shatai factories from 10 to 28 May. In addition, the Japanese automaker will postpone production at a factory in Tochigi for 10 days.
“Due to the global chip shortage, Nissan is adjusting production and taking the necessary measures to ensure improvement,” a Nissan spokesman said last month.