The Japanese automaker has been reported to start its international arbitration which is directed toward India; reports are indicating that Nissan is looking to seek a whopping $770 million in a dispute over unpaid state incentives.
On the other hand, the company has been vigorously working on the development on their latest model of a hybrid or most commonly known as Crossovers; the new vehicle is Nissan’s new entry on the compact market of Crossovers. The launching of their new compact Crossovers was held at the recently concluded Los Angeles auto show.
Nissan, India Issues
According to reports, the automobile company sent a legal notice to the Prime Minister Narendra Modi last year as they look for the promised and agreed upon incentives which were garnered through 2008’s car manufacturing plant in the southern state agreement by the Tamil Nadu government.
Elaborating the notice, Nissan has been relentlessly queued their requests to the state officials for the payment which, in return, are being overlooked from time-to-time. The company’s Chairman Carlos Ghosn’s federal assistance plea with Modi last March of 2016 produced no overwhelming results and was deliberately snubbed.
Sources also noted that several more meetings between the company and state officials were concluded after March’s incident. Although nothing was yielded from the countless meetings and discussions; recently, Nissan gave their ultimatum to appoint an arbitrator and the pioneering arbitration hearing will be held in mid-December.
India’s Current Issues
Tallying all the unsettled cases against India, facts show that the country is currently bombarded with 20 of them; the current figures were tallied to be the highest unsettled cases against a single nation. The current situation between the auto company and the country is the proof how local disputes against India are and this is a strong stench that could possibly waive foreign companies and investors and the opportunity they could offer to the country.
Nissan’s New Crossover
The Japanese manufacturer recently unveiled their new entry-level crossover for 2018 dubbed as the Nissan kicks; this will be an addition to the market current popular roster of manageable crossovers which includes the Honda HR-V and the Kia Soul.
According to the company, the newly introduced Kicks as the “gateway” to their beefier crossover lineup which currently costs at around the $45,600 mark for their Armada SUV. According to their North America Senior Vice President, Dan Mohnke, Kicks is designed to fit the needs of singles or couples looking for expressive styling, personal technology, smart functionality and advanced safety features at an affordable price,”
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