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In a bid to regain its footing in the crucial Chinese market, Nissan Motor Co. (OTC:NSANY) (OTC:NSANF) is strengthening its research collaboration with a prominent Chinese university.
According to the Associated Press on Sunday, the Japanese automaker disclosed its plans to initiate joint research with Tsinghua University next year. The research aims to understand Generation Z's preferences and explore the auto industry's social responsibility concerning battery recycling, charging stations, and additional issues concerning electric vehicles.
Nissan's move comes amid a surge in electric vehicles in China, leading to the emergence of new domestic competitors that have seized substantial market share. Nissan's sales in the Chinese market fell by 34% in the six-month period from April to September in comparison to the previous year.
"Market conditions in China have become extremely tough," said Masashi Matsuyama, the head of Nissan’s Chinese investment company, during a Beijing press conference.
Nissan aims to create 10 new-energy vehicles for the Chinese market, with four under its own brand by 2026 and the remaining six for its Chinese joint venture partners, according to the Associated Press. The company's first Nissan-branded model is slated for launch in the second half of next year.
The automaker is also enhancing its electric vehicle offerings in other markets. Last month, Nissan, in alliance with Renault SA (EPA: RNO), declared its plan to modify a facility in Great Britain to manufacture electric versions of its two top-selling vehicles.
Meanwhile, the European Union has begun an investigation into Chinese government subsidies to assess if they are providing an unfair competitive advantage to China-based vehicle manufacturers. Tsinghua University and Nissan have been research partners since 2016, studying electric vehicles and autonomous driving for the Chinese market.
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock
