Key facts
- Nissan has stopped development of an electric Qashqai SUV.
- Nissan's decision is aimed at cutting costs and restructuring its lineup.
- Intense competition from Chinese automakers is a factor in Nissan's decision.
- Potential changes to UK EV sales targets are also a consideration for Nissan.
- Nissan shareholders voted against the appointment of a key outside director.
- The rejected director chairs Nissan's audit committee.
- Major shareholder Renault abstained from the vote on the director appointment.
- Ferrari's Chief Marketing and Commercial Officer denied reports about EV purchase requirements for limited-edition models.
- Enrico Galliera stated that requiring EV purchase for limited models would be a "huge mistake".
- Ferrari believes such a policy could harm the residual market value of its EV.
Nissan has decided to shelve the development of an electric version of its popular Qashqai SUV. This decision is part of a broader strategy to reduce costs and reorganize the company's vehicle lineup. The move occurs amidst significant competitive pressure from Chinese automotive manufacturers and potential adjustments to the United Kingdom's electric vehicle (EV) sales targets. The Qashqai has been a strong seller for Nissan, and its electrification was anticipated by many in the market.
In a separate development concerning Nissan's corporate governance, the company's shareholders voted against the appointment of a crucial outside director. This director chairs the company's audit committee. Notably, major shareholder Renault abstained from this vote, which is being interpreted as a signal of investor unease regarding director independence. This comes at a time when Nissan is under ongoing scrutiny regarding its governance practices.