Japanese car manufacturer Nissan is on the hunt for a business process outsourcing partner to provide application development and maintenance services in a bid to cut operational costs.

The organization has invited outsourcing companies such as TCS, Wipro, IBM and Mahindra to bid for the deal which is reported to be worth around $250m.

A significant local presence or partnership with another Japanese IT firm is among the key parameters the bidders have to follow, according to a senior executive at one of the tech firms exploring this opportunity, it was reported in the Offshoring Times.

Japanese firms outsource IT contracts worth over $8bn to countries, such as China, India, Korea and Vietnam every year.