Honda Is One Of The Partners Nissan Needs, According Company’s New CEO

Nissan’s new CEO, Ivan Espinosa, remains open to a partnership with Honda, despite the recent collapse of their talks for a historic tie-up.

The auto industry’s push into intelligent cars “is going to require a lot of work and a lot of investment that probably will need some partner,” said Espinosa, who will assume his new role on April 1. “I’m open to Honda or other partners as long as these partners are helping us drive the vision of the business.”

Espinosa, Nissan’s chief planning officer, is taking charge during a critical time for the company. The failed merger talks with Honda, which would have formed one of the world’s largest car manufacturers, have left Nissan in a tough spot. Espinosa’s top priority will be forging partnerships to develop electric vehicles and new technologies, aiming to revitalize the ageing product lineup that has led to declining sales. This direction indicates the kinds of collaborators Nissan might pursue.

Hon Hai Precision Industry Co., the Taiwanese iPhone maker, is interested in buying Renault SA’s stake in Nissan. While Nissan is open to working with Foxconn, it sees more value in partnering with a larger tech firm, as reported by Bloomberg News.

Espinosa regrets not accelerating product development sooner and acknowledged that changing a large company like Nissan is difficult. He noted the goal to reduce the time from car development to production to 30-37 months, down from 50-52 months.

“A CEO usually faces one or two major crises in their career,” he said. “But I have to handle four or five at once, including a turnaround, a moral crisis, and transformational work.”

• Also See: Honda To Renegotiate With Nissan Again If CEO Resigns