Nissan Motor's chief executive said on Saturday he planned to launch a number of new vehicles in the growing Chinese market over the next five years, including electrical cars, that could help the struggling Japanese automaker return to profit.
said on Saturday he planned to launch a number of new vehicles in the growing Chinese market over the next five years, including electrical cars, that could help the struggling Japanese automaker return to profit.
“The recovery in the Chinese market has been very remarkable, and our key segments have returned to the previous year’s level if not slightly better,” CEO Makoto Uchida said at a press conference at the Beijing auto show via a video link from Japan. “I expect this rebound to continue, but we need to watch for signs of trouble,” he added.
Uchida’s remarks come as investors express concern about Japan’s second-largest carmaker, which has warned of a record $4.5 billion loss this year as the pandemic hampers its turnaround. Nissan has pledged to cut 300 billion yen from annual fixed costs and focus on each of the company’s three biggest markets: China, the United States and Japan.
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