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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.

Nissan will reduce its presence in Europe as part of turnaround plan

TOKYO — Nissan is planning to further reduce its presence in Europe and outsource the sales and manufacturing of its cars to alliance partner Renault, the daily Yomiuri newspaper reported on Friday. As part of its global turnaround plan, which is reversing a rapid expansion led by the ousted former chairman, Carlos Ghosn, Nissan will cut its distribution channels in thirty countries, mainly in East Europe. It is also planning to close its Avila plant in Spain and convert it into a warehouse, the report said. The report didn't provide details of the scale of the outsourcing. Calls to Nissan's public relations office went unanswered on Friday, a public holiday in Japan. The Japanese motor company is currently moving its operations away from Europe and shifting its focus to China, the United States, and Japan. Nissan, which expects to post a record operating loss of 340 billion yen ($3.25 billion) in the year to March 31, is cutting production capacity and model numbers by a fifth and aims to slash operating expenses by 300 billion yen over three years. The company's three-way alliance with Renault and Mitsubishi Motor was plunged into uncertainty in 2018, when Ghosn was arrested on financial misconduct charges, which he denies. He later fled Japan while being monitored by law enforcement and awaiting trial at his residence.

Mitsubishi could use Lancer Sportback name on its version of the Nissan Leaf

Various reports might help with filling in some of the blanks in Mitsubishi's Momentum 2030 plan. That's the automaker's new initiative we heard about last month that Mitsubishi North America President and CEO Mark Chaffin said is "setting the stage for new powertrains and vehicles being introduced, new dealerships being opened, and new technologies being developed to make the shopping and ownership experience faster, easier and more enjoyable." The first hints of new product suggested a rugged plug-in hybrid van, something else in the Subaru Outback segment, and perhaps an electric pickup. And after Renault-Nissan-Mitsubishi alliance partner Nissan introduces a new-generation Leaf EV for the 2026 model year, Mitsubishi's supposed to get the Leaf for its own use. Based on a recent trademark renewal, Australian outlet Which Car? via Car and Driver suspects this EV (highlighted in the image above) could be called Lancer Sportback.  Car and Driver caught the fact that Mitsubishi renewed a trademark application for the name Lancer Sportback at the U.S. Patent and Trademark Office on March 12 of this year. And speaking of Lancers, the Japanese automaker applied to trademark Lancer Evolution on August 8 last year. The USPTO refused the registration, Mitsubishi filed an appeal that's still under consideration.    Which Car? doesn't say why it believes Mitsu might apply the Lancer (requested in 2020) or Lancer Sportback name to its little EV, but notes that the automaker's been reusing names around the world of late, such as Airtrek, Colt, Eclipse, and Eclipse Cross. There's more where that came from for us, C/D also tabbing Mitsubishi's trademark application for the name Montero, submitted last August and approved in February. That 4x4 launched as the Pajero in 1981 and sold in the U.S. as the Montero (and the Dodge Raider). The carmaker hasn't sold a Montero here since 2006, and ended Pajero production in 2021. A new model called the Pajero Sport filled the gap in the lineup, but that SUV is based on Mitsubishi's Triton pickup sold in overseas markets.  We've got a while to wait to figure out what's up. The new Leaf is expected to be a mini Nissan Ariya based on Nissan's Chill-Out concept from last year's Tokyo Mobility Show. The image above is from the Momentum 2030 announcement, the little crossover we've highlighted has a DRL signature that fits the form factor.