Nissan is not in talks about Mitsubishi stake sale, says automaker

Nissan Motor is “absolutely not” in talks to sell its stake Mitsubishi Motors, Nissan’s chief operating officer said on Monday, after a report that the automaker was considering pulling out of its alliance partner.

“We are not in any discussion or consideration of changing the capital structure in our partner companies. We are moving ahead with many projects,” Ashwani Gupta said in an interview at the Reuters Automotive Summit teleconference.

He discussed after Bloomberg News reported, citing unidentified sources, that Nissan was thinking about selling its 34% stake in Mitsubishi Motor to help it cope with the downturn in demand caused by the coronavirus crisis.

Both Nissan and Mitsubishi are cutting production levels and costs in a bid to get back to profitability.