Nissan may need something compelling soon, and a Chinese EV startup could be the answer.
According to a recent report via Bloomberg, Nissan may be considering an investment in a China-based EV startup company. While the automaker has seen massive global success with its all-electric LEAF over the years, the competition is increasing and it needs something to regain substantial interest.
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Nissan has proven for some time that a global reach for its electric vehicles is much better than relying on any individual domestic market. While U.S.-based all-electric automaker Tesla is working to dominate globally when it comes to EVs, this is not necessarily the case in regards to some competitors.
Some U.S.-based automakers are not making their EVs available globally. In addition, some global automakers are making it quite difficult to get their offerings in North America, outside of select areas.
China has proven to be a massive market for electric cars, so to push into that market in any way possible could prove hugely advantageous for any carmaker. This is clearly why Nissan may be considering a 25% stake in a Chinese EV startup.
Bloomberg reports, according to those familiar with the situation, that Nissan is looking at WM Motor Technology Co., Zhejiang Hozon New Energy Automobile Co., and CHJ Automotive Co. as potential options.
Nissan, along with the Chinese companies have declined to comment thus far. However, the Japanese automaker is still in the midst of a frenzy as its former chief Carlos Ghosn was arrested and is still in jail.