Nissan on ‘good path’ with profit recovery, EV investment plans, says COO

Nissan plans to have 23 new models by 2030 of which, 15 would be completely powered by battery.The company has also set a target of achieving 180 billion yen operating profit for the year through March.
By : HT Auto Desk
| Updated on: 07 Dec 2021, 14:00 PM
Robotic arms put in the electric vehicle powertrain into the Ariya model in the assembly line at Nissan's Tochigi plant in Kaminokawa town,  (AP)
Robotic arms put in the electric vehicle powertrain into the Ariya model in the assembly line at Nissan's Tochigi plant in Kaminokawa town,  (AP)
Robotic arms put in the electric vehicle powertrain into the Ariya model in the assembly line at Nissan's Tochigi plant in Kaminokawa town,  (AP)
Robotic arms put in the electric vehicle powertrain into the Ariya model in the assembly line at Nissan's Tochigi plant in Kaminokawa town, 

Nissan Motor company has been witnessing profit recovery and is electric-vehicle investment plans have placed the automaker on a good path towards future growth, the company's Chief Operating Officer Ashwani Gupta told Bloomberg.

Gupta's comments follow Nissan’s announcement last week that it will spend 2 trillion yen ($17.6 billion) over the next five years on electrifying more of its fleet. The company plans to have 23 new models by 2030 of which, 15 would be completely powered by battery.“Our operating profit is positive, and when we’re talking about electrification, this is meaningful," Gupta said.

Similar Cars

Find More Cars
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99 - 13.14 Lakhs**Ex-showroom price
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
 
₹12 - 15 Lakhs* *Expected Price
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99 - 16.85 Lakhs**Ex-showroom price
Tata Nexon Ev Max (HT Auto photo)
Tata Nexon Ev Max
Electric | Automatic
₹17.74 - 19.24 Lakhs**Ex-showroom price
Mg Zs Ev (HT Auto photo)
Mg Zs Ev
Electric | Automatic
₹21 - 24.68 Lakhs**Ex-showroom price
Mg Zs Ev 2022 (HT Auto photo)
Mg Zs Ev 2022
Electric | Automatic
₹21.99 - 25.88 Lakhs**Ex-showroom price

(Also read | Nissan aims for the moon, unveils lunar rover concept with electric power)

His remarks follow statements made the carmaker's former CEO Carlos Ghosn, who in an online briefing from Lebanon, said that the automotive industry is undergoing a monumental shift to battery-powered cars. He also questioned Nissan’s current management of being able to guide the company through the period of disruption. “The market is telling you that it is betting on companies that are moving toward totally electric. I don’t think Nissan management is well equipped for this," he said.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

However, Gupta responded by underscoring the company’s financial recovery and the company's target of achieving 180 billion yen operating profit for the year through March. About electrification, he said, "We’re talking about doing 2 trillion yen of investment to launch 23 products. This is good enough in regard to sustainable growth for Nissan moving into the future."

Further, Nissan is allocating “production to profitable markets and markets where customers are waiting," Gupta said while responding to questions on output cuts due to the pandemic as well as the disruption of supplies of semiconductor chip and raw materials.

When asked if Nissan would see cuts similar to October’s 22% production drop, Gupta said, “I’m not sure about 22%, but it should be double digit."

(with inputs from Bloomberg)

First Published Date: 07 Dec 2021, 14:00 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city