Nissan to Sell All Shares in Daimler for $1.2 Billion

Nissan to Sell All Shares in Daimler for $1.2 Billion

Renault is following the lead of Japan’s automaker by pulling out Daimler.

According to Automotive News, Nissan has reportedly sold its 1.5 percent stake in Daimler. This is similar to the Japanese automaker’s Alliance partner Renault which sold its shares to the German company in March.

Recall that Nissan and Renault traded stakes with Daimler ten year ago to strengthen industrial partnership. This gave birth to rebadged cars within the automakers’ lineups, particularly within the commercial vehicle segment.

Mercedes X-Class The Navara was the global cousin to North America’s luxury pickup. Nissan Frontier According to the report, the sale of shares will not affect cooperation between the companies. However, it is important to remember that those close to the issue said that there were larger initial plans than what was being proposed and that cross-shareholdings weren’t necessary. However, these huge plans weren’t discussed.

Nissan to Sell All Shares in Daimler for $1.2 Billion

Sources indicate that Nissan shares will close at 69.85 euro (around $83) per share. This amount will allow Nissan to make a profit of less than 1.2 billion euros (around $1.2 billion).

Renault closed at 72.41 euro (roughly $87) per share.

It remains to be seen what the Alliance and Daimler will produce. The Mercedes X-Class was discontinued in 2020. This marks the end of a nearly two-year-long run for this posh pickup truck.

The X-Class was manufactured in Spain’s Nissan plant in Barcelona. Mercedes-Benz considered the X-Class a niche product, which is only relevant in South Africa and Australia. The German marque decided to remove the X-Class form the lineup. Of course, price was one of the reasons.