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‘Too early’ to say if Nissan would spin off EV unit: COO – ET Auto

The French carmaker said in April all options were on the table for separating its EV business, including a possible public listing, as it seeks to catch up with rivals such as Tesla and Volkswagen.

TOKYO – It is too early to say whether Nissan Motor Co would spin off its electric vehicle (EV) business division like its alliance member Renault is seeking to do, a senior executive of the Japanese automaker said on Friday.

“It’s too early to consider because of our diversified market portfolio and diversified product portfolio,” Nissan COO Ashwani Gupta said.

The French carmaker said in April all options were on the table for separating its EV business, including a possible public listing, as it seeks to catch up with rivals such as Tesla and Volkswagen.

Nissan Motor Co. now has two auto plants in the U.S. One in Canton, Mississippi makes the Titan pickup truck and Altima sedan, among other models. The other in Smyrna, Tennessee makes the Leaf electric car, Pathfinder sport utility vehicle and other models.

The Japanese auto giant reported an annual net profit of 215.5 billion yen ($1.67 billion), beating the company’s forecast of 205 billion yen and representing the first net profit since fiscal year 2018-19.

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