Nissan CEO Makoto Uchida stated that the world needs to move away from internal combustion engines. This comes after UK Prime Minister Rishi Sunak delayed the ban on the sale of new petrol and diesel cars. Uchida confirmed that Nissan will not release any more fossil fuel-powered vehicles in Europe, as governments in the region are pushing for a transition to electric vehicles. In other news, the Hollywood writers’ strike may be nearing an end after a tentative agreement was reached with studios, and Russian forces continue their air strikes on the Ukrainian city of Odesa to disrupt grain exports. Business tensions between China and the rest of the world are also in focus, with a senior Nomura banker facing travel restrictions in China and the EU’s trade chief warning about new areas of concern. Western companies are reevaluating their operations in China and considering strategies to reduce risk, such as moving manufacturing out of the country or focusing solely on the Chinese market. Meanwhile, Western policymakers believe that dialogue with China is crucial despite disagreements.
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