Technology

COO says Nissan is on the “good road” in profit recovery, EV investment plans

Nissan Motor The company is witnessing a recovery in profits, and its plans to invest in electric vehicles are making automakers on track for future growth, Ashwani Gupta, chief operating officer of the company, told Bloomberg. Told.

Gupta’s comment is that, following Nissan’s announcement last week, it will spend 2 trillion yen ($ 17.6 billion) on electrifying more vehicles over the next five years.

The company plans 23 new models by 2030, 15 of which will be fully battery-powered.

(Read again | Nissan announces the concept of a lunar rover with electricity, aiming for the moon).

His remarks follow Carlos Ghosn, a former CEO of the automaker, who said in an online briefing from Lebanon that the auto industry is undergoing a tremendous shift to battery-powered cars. He also questioned Nissan’s current management that it could lead the company through times of turmoil. “The market says it’s betting on companies that are completely shifting to electricity. I don’t think Nissan’s management is well prepared for this,” he said.

However, Gupta responded by emphasizing the company’s financial recovery and the company’s goal of achieving operating profit of 180 billion yen in the year to March. Regarding electrification, “We are talking about electrification of 2 trillion yen. Investing to launch 23 products.. This is sufficient for sustainable growth for Nissan to move forward into the future. “

In addition, Nissan “allocations production to profitable markets and markets where customers are waiting,” Gupta said, answering questions about pandemics and cuts in production due to disruptions in the supply of semiconductor chips and raw materials. rice field.

When asked if Nissan would see a reduction similar to the 22% production cut in October, Gupta said, “I don’t know about 22%, but that should be double digits.”

(There is input from Bloomberg)

https://auto.hindustantimes.com/auto/news/nissan-on-good-path-with-profit-recovery-ev-investment-plans-says-coo-41638859190914.html COO says Nissan is on the “good road” in profit recovery, EV investment plans

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