Cash-strapped Nissan Motor said on Friday it would sell its manufacturing assets in Rosslyn, South Africa (SA), to China’s Chery Automobile for an undisclosed amount.
The Japanese automaker said the date of the sale and its financial impact are still being assessed as regulatory approvals remained pending.
Production of the Navara pickup truck, the plant’s only model, will end in May if the deal goes through, a company Spokesperson said.
The move forms part of its ongoing turnaround plan under which it is closing or consolidating seven plants, the Spokesperson added, declining to confirm the production capacity of the plant.
Chery said in October it was considering using another manufacturer’s facility, forming a joint venture or building its own greenfield site in SA.
–Reuters–
