Nissan Says ‘No Decision’ Made on Spinning Off EV Unit

 

Nissan Motor said on Friday it has not yet made a decision on whether to follow alliance member Renault and spin off its electric vehicle (EV) business division.

Renualt 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.

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

But the move has raised speculation that Renault may consider lowering its stake in Nissan. As an alliance member, Nissan would support Renault’s endeavours, Gupta told reporters.

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.

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

 

  • Reuters, with additional editing by George Russell

 

 

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.