Nissan Motor Co. is taking into account the sale of its 41% stake it has in the auto parts supplier Calsonic Kansei Corp. in order to gain more cash for research and development in the electric vehicles area and artificial intelligence, the Nikkei – world’s largest financial newspaper – announced.
Nissan, which is Japan’s second-biggest carmaker, will look for a first tranche of bids in June. The move has already gained interest from big foreign parts makers and also U.S. and European investment funds.
Taking into consideration Calsonic Kansei’s market value, the sale could raise a massive $915 million for the Japanese carmaker. The value of the shares in Calsonic Kansei have fallen 7.2% in early trade up to the moment of this report.
Nissan, which is owned by France’s Renault S.A. in proportions of 44%, stated that it was considering different options for the auto parts producer, without any decision having been reached up to this point. The company did say that “Calsonic Kansei is one of the most important partners for the Renault-Nissan alliance. We are considering various options that would boost Calsonic Kansei’s competitiveness.”
A spokeswoman from the Japanese auto parts supplier, which has 50 manufacturing centers around the world, said that the sale decision belongs only to the Nissan brand and that the part supplier maker would not comment on the topic.
In a move to compete with its car rivals like Toyota Motor Corp and Volkswagen AG, Nissan has recently decided to buy a 34% stake in Mitsubishi Motors Corp. for around $2.2 billion.