EV source of Nissan's future revenue - CEO

Friday, 09. October 2020 08:52

Nissan is counting on its collaboration with Mitsubishi and Renault on electric vehicles (EV) to be the source of its income in the future, the company's President and Chief Executive Officer (CEO) Makoto Uchida told Nikkei Asian Review on Friday.

Uchida noted Nissan's drop in sales amid the crisis caused by the coronavirus pandemic had "not been larger than expected, but we need to carefully monitor the situation." He stressed the company intended to "focus on our highly competitive midsize segment, electrification and driver assistance technology, and ensure customers are aware of the value of our products."

Nissan reported its revenue in the first quarter of 2020 dropped 51% year-on-year to ¥1.17 trillion as a result of the crisis. The car manufacturer recently managed to raise $8 billion in its first nonconvertible dollar bond sale in twenty years in an attempt to salvage its finances.

Related Links: Nissan Motor Co. Ltd.
Author:
Breaking the News / JR