Nissan is in a teensy spot of financial bother, but new boss Ivan Espinosa isn’t planning to become anyone’s sidekick just to stay afloat. Speaking at the FT’s Future of the Car summit, Espinosa said: “What we’re trying to do is not to be hostages of any partner.”
Nissan has had ties with Chinese carmakers, notably Dongfeng—maker of the N7 pictured here—for over 20 years. Espinosa confirmed that “everything is on the table,” saying he would consider letting Chinese brands join Nissan’s own production ecosystem outside China.
Such a move would enable said Chinese brand to avoid EU tariffs imposed earlier in the year.
About six weeks into his official tenure as new CEO, Espinosa has had to make some tough decisions after merger talks with Honda failed. The company recently announced the closure of seven plants and the loss of up to 20,000 jobs, too.
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But while things are still tough, this isn’t 1999. “Back then, there was a huge pile of debt and no cash in the bank,” said Espinosa. “Today, I have over ¥2.2 trillion in the bank plus [unused] lines of credit.”
Translation: It’s not great, but we’re not skint. There’s still time and (some) money. Let’s see how this plays out.
NOTE: This article first appeared on TopGear.com. Minor edits have been made.
