Nissan says it’s too early to predict EV unit spin-off

Nissan says it's too early to predict EV unit spin-off

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

It is too soon to say whether Nissan Motor Co would spin off its electric vehicle (EV) business division like its alliance part Renault is trying to do, a senior executive of the Japanese automaker said on Friday. The French carmaker said in April all choices were on the table for separating its EV business, including a possible public posting, as it looks to catch up with rivals such as Tesla and Volkswagen. But the move has raised speculation that Renault might think about bringing down its stake in Nissan.

Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in the French company, and the structure of their partnership has long been a source of friction in Japan.

As an alliance member, Nissan would support Renault’s endeavors, Gupta told reporters.

At the same time, Nissan needs to focus on both electric vehicles and internal-combustion engine cars that include the hybrids, he said.

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