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    7201   JP3672400003

NISSAN MOTOR CO LTD

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Delayed Japan Exchange  -  05/20 01:01:03 am EDT
494.20 JPY   +2.32%
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Great Wall Motor withdraws interest in Spain's Nissan plant

12/13/2021 | 06:12am EDT
FILE PHOTO: The logo of Nissan is seen through a fence at Nissan factory at Zona Franca during the coronavirus disease (COVID-19) outbreak in Barcelona

BARCELONA, Dec 13 (Reuters) - Chinese carmaker Great Wall Motor has withdrawn its interest in taking over Nissan's main plant in Barcelona, which is scheduled to shut by year-end, the Spanish government and Nissan unions said on Monday.

Great Wall did not respond to a request for comment.

Coming just weeks before Nissan's three Barcelona plants are scheduled to close, the decision is a blow to authorities and leaves the fate of around 1,600 direct jobs up in the air, as GWM was the main contender to take over the largest factory.

The Industry Ministry said in a statement the Chinese company had said it would not proceed with the project. Last week, national and regional authorities sent an improved proposal when GWM reportedly cast doubts on its initial interest in the plant.

Another meeting on the plant's future will be held on Dec. 17 to discuss striking a deal by the end of the year with other possible investors, the statement said. (Reporting by Joan Faus; Additional reporting by Brenda W. Goh and Isla Binnie; editing by Nathan Allen and Jason Neely)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
GREAT WALL MOTOR COMPANY LIMITED -1.78% 12.18 Delayed Quote.-53.51%
NISSAN MOTOR CO LTD 2.30% 494.2 Delayed Quote.-9.59%
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Financials
Sales 2022 8 673 B 68 102 M 68 102 M
Net income 2022 221 B 1 739 M 1 739 M
Net Debt 2022 5 298 B 41 599 M 41 599 M
P/E ratio 2022 8,56x
Yield 2022 0,71%
Capitalization 1 891 B 14 846 M 14 846 M
EV / Sales 2022 0,83x
EV / Sales 2023 0,74x
Nbr of Employees 131 461
Free-Float 45,7%
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Number of Analysts 18
Last Close Price 483,00 JPY
Average target price 685,88 JPY
Spread / Average Target 42,0%
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Managers and Directors
Makoto Uchida Executive President & Chief Executive Officer
Stephen Ma Chief Financial Officer & Executive Officer
Yasushi Kimura Chairman
Anthony Thomas Chief Information Officer
Ashwani Gupta COO & Representative Executive Officer
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