Nissan Motor has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, two people with knowledge of the matter told Reuters on Thursday.
FILE PHOTO: Nissan Motor's logo is pictured at its headquarters in Yokohama, Japan February 13, 2020. REUTERS/Kim Kyung-Hoon/File Photo
Like other automakers, Nissan has been hard hit as the pandemic decimates demand and disrupts production, but the Japanese automaker is more vulnerable than others. Nissan is requesting the funding given the possibility that the impact of the coronavirus on production and demand could continue for an extended period, one of the people said.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Honda, Nissan Furlough Workers As Auto Plant Shutdowns Are ExtendedAuto assembly plants across the country continue to be closed amid the coronavirus pandemic. Tens of thousands of workers are going without pay.
Read more »
Treasury preparing to seek more than $200 billion to replenish small business coronavirus programThe Treasury Department is asking for more than $250 billion to replenish a new small business loan program that's being quickly spent down.
Read more »
The briefings aren’t working: Trump’s approval rating takes a dipEven as the country confronts the greatest disruption to daily life since WWII, a series of new polls released this week show Trump’s approval ratings plateauing in the mid-40s
Read more »
Column: 'Pharma bro' Martin Shkreli wants out of prison to find a cure for coronavirusMartin Shkreli hasn't specifically explained why his release from incarceration is of critical importance, beyond asserting that his participation in the search for a coronavirus treatment is essential. Columnist hiltzikm explains:
Read more »
L.A. County tells residents to stay inside this week as coronavirus hits new milestoneL.A. County tell residents to stay inside this week as coronavirus hits new milestone
Read more »
Robin Roberts Pays Tribute to 'GMA' Cameraman Who Died of CoronavirusRobin Roberts says goodbye to a coworker who died from coronavirus.
Read more »