Nissan bets on new Ariya electric SUV to symbolize its revamp, but sales plans modest

TOKYO/BEIJING (Reuters) - Nissan Motor Co on Wednesday unveiled the Ariya - an electric SUV and its first all-new global model in five years - hoping it will symbolize its road to recovery after more than a year of scandal and a precipitous decline into earnings losses. But initial sales plans for the Ariya are modest, people with knowledge of the matter told Reuters, an indication that the vehicle will do little to lift Nissan’s bottom line.

Japan wants manufacturing back from China, but breaking up supply chains is hard to do

TOKYO (Reuters) - When Japanese firm Iris Ohyama agreed in April to begin producing much-needed face masks in Japan, it marked a win for Prime Minister Shinzo Abe who wants to bring manufacturing back from China. Spooked by coronavirus-induced factory shutdowns in China, Abe’s government has earmarked $2 billion to help companies shift production home. The policy, part of a massive stimulus package to cope with the pandemic, has even been termed by some bureaucrats as a matter of national security.