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Nissan executive Jun Seki resigns to become president of Nidec

YOKOHAMA, Japan — The executive tasked with leading a recovery at Nissan said he had decided to resign just weeks into his new job, a move that could disrupt the automaker's push to turn the corner on scandal and slumping sales. Jun Seki, Nissan's vice chief operating officer and a former contender for chief executive, told Reuters he was leaving to become the president of Nidec, a Kyoto-based manufacturer of automotive components and precision motors. He will likely depart in January after three decades at Nissan, including a stint heading its China business. "I love Nissan and I feel bad about leaving the turnaround work unfinished, but I am 58 years old, and this is an offer I could not refuse. It's probably my last chance to lead a company too," he said in a brief interview. "It's not about money. In fact, I will take a financial hit since Nissan pays us well," Seki said. He declined to elaborate further. Nissan and Nidec declined to comment. Seeking to roll back some of the costly expansion under ousted chairman Carlos Ghosn, Nissan has embarked on wide-ranging turnaround plan. That plan, which began in April, is now on track to generate a cumulative few hundred billion yen in cost cuts and operational efficiency gains by the year to March 2022, according to two Nissan sources who spoke on condition of anonymity. One hundred billion yen is roughly equal to $915 million (707 million pounds). Adding to concerns about disruption among Nissan's top management, the sources said that Seki, Chief Operating Officer Ashwani Gupta and Chief Executive Makoto Uchida have so far failed to gel as a team after being named to their posts in October. They officially took over on Dec. 1. "There was no instant, cohesive chemistry achieved by those appointments," one of the sources said. Gupta and Uchida were not immediately available for comment. Seki's resignation could further complicate Nissan's relationship with top shareholder Renault SA. Seki recently worked in Paris for a year and was seen as relatively close to the French automaker. PERSUADED IN THE END Asked if he was leaving Nissan because he was passed over for the role of chief executive, Seki said that was not the case but did not elaborate. He and Uchida, most recently the head of the China business, had been seen as top contenders for the CEO job. Reuters reported in September that Uchida was seen as more favored by Renault.

Honda-Nissan-Mitsubishi alliance completes Japan car industry consolidation

Makoto Uchida (left), president and CEO of Nissan, and Toshihiro Mibe, director, president and representative executive officer of Honda, at a press conference in Tokyo on Thursday. (Getty)   Japan’s carmakers are putting the finishing touches on a combine-and-compete strategy for an automotive age defined by batteries and software, with three manufacturers joining forces to complement a separate Toyota Motor Corp.-led coalition. Honda Motor Co. and Nissan Motor Co. agreed this week to build upon a preliminary deal first reached in March, offering more details of how they plan to work together and also adding Mitsubishi Motors Corp. to the mix. While the companies havenÂ’t yet discussed a capital alliance, forming one is a possibility, Honda Chief Executive Officer Toshihiro Mibe said. The partnership will span joint work on software development, batteries and other electric-vehicle components, as well as EV charging and energy services, the three companies said. Their cozying up to one another follows Toyota acquiring stakes in Subaru Corp., Suzuki Motor Corp. and Mazda Motor Corp., and helping them navigate a fraught era for legacy car companies. Whereas Toyota has tied up with its domestic peers from a position of strength — itÂ’s been the worldÂ’s best-selling automaker for four years running — Honda, Nissan and Mitsubishi each are much smaller players on the global stage. Their coming together is seen as a move by JapanÂ’s government to fortify its auto industry in the wake of China having emerged as the worldÂ’s new No. 1 car exporter. “This is coordinated by the government to build a competitive automaking industry,” said James Hong, analyst at Macquarie Securities Korea Ltd., adding that most automakers in Japan are too small to be able to invest in EVs individually. “It feels like a politically driven alliance.” While the US has had the Big Three — General Motors Co., Ford Motor Co. and Chrysler, now owned by Stellantis NV — and Germany similarly has a trio in Volkswagen Group, BMW AG and Mercedes-Benz, Japan has a much bigger crop of carmakers manufacturing vehicles across the globe. Honda, Nissan and Mitsubishi combined sold about 4 million vehicles globally in the first six months of the year, well shy of the 5.2 million that Toyota sold on its own. While the three touted the potential for generating synergies from working together, executives also acknowledged theyÂ’ll have to overcome contrasts with their compatriots.

Chevy City Express headed for dealers

With competition coming from the Ford Transit Connect, it's high time Chevrolet got in on the compact hauling action and took the fight to its cross-town rival... and it's doing so with a little help from Nissan. The Chevy City Express, a badge-engineered Nissan NV200, is now arriving at dealers, giving Bowtie fans a counter to Dearborn's compact van.
"Our existing customers will love getting behind the wheel of the City Express when it's at their Chevrolet dealership," Ed Peper, GM's vice president of fleet and commercial vehicles said in a statement. "But we're most looking forward to giving potential new customers the opportunity to experience one of many Chevrolet commercial vehicles that best fit their needs."
Prices for the 2015 City Express start at $22,950. Scroll down for the official announcement from Chevrolet.