Nissan to sell its entire stake in German automaker Daimler

Economy

Nissan Motor Co. said Wednesday it will sell its entire stake in German automaker Daimler AG for 1.15 billion euros ($1.38 billion) and invest the acquired funds in such areas as promoting automotive electrification, in a bid to step up its global competitiveness. The shares to be sold would account for about 1.5 percent of the total stocks issued by Daimler, a partner with the alliance of the Japanese carmaker and French Renault SA since 2010 which have cooperated in developing compact and electric vehicles, according to Nissan. Nissan's move follows that of Renault which announced in March t...

Kyodo News

Kyodo News