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Nissan's new CEO intends to slash its vehicle development time

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Nissan plans to dramatically cut its car development time to boost its competitiveness, the struggling automaker's incoming CEO Ivan Espinosa said on Wednesday.
Nissan's new CEO, Makoto Uchida, has announced plans to significantly reduce the time it takes to develop new vehicles, aiming to cut the process from the current 2.5 to 3 years down to just two years. This initiative is part of a broader strategy to enhance competitiveness in the rapidly evolving automotive industry, particularly against the backdrop of increasing electric vehicle (EV) production and market demands. Uchida emphasized the need for speed in development to keep up with market trends and consumer expectations, especially in the EV sector where technology and consumer preferences are shifting quickly. This move is also seen as a response to Nissan's need to recover from past financial and reputational setbacks, including the fallout from the Carlos Ghosn scandal. The reduction in development time is expected to help Nissan introduce new models more frequently, thereby refreshing its lineup and potentially regaining market share.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/nissans-new-ceo-intends-to-slash-its-vehicle-development-time/ar-AA1BGllN ]