Nissan has committed to investing an additional 10 billion yuan ($1.4 billion) in China, and says it sees the nation¡¯s intensely competitive automobile market as fertile ground to help it develop electric vehicles, an area where it needs to improve in order to get back on its feet.
¡°With China moving so fast, we want to stay and we want to compete,¡± Stephen Ma, the head of Nissan¡¯s operations in China, said on Wednesday during a news conference at the Shanghai auto show. The investment will be made by the end of 2026.
Ma, who transferred to China in January, previously served as Nissan¡¯s chief financial officer. He was assigned a new role during a major leadership reshuffle that was triggered by a rapid decline in the Japanese automaker¡¯s financial stability.
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