On Saturday, Nissan Motor Corporation (7201.T) announced that it plans to release new automotive units in the growing Chinese market over the next five years. The Japanese multinational automobile manufacturer said that the move could help the struggling company return to making 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,” Nissan Motor’s Chief Executive Officer Makoto Uchida said in a press conference in Beijing.
“I expect this rebound to continue, but we need to watch for signs of trouble,” he added.
Nissan stated that it would launch nine new and re-designed electric car models in China after five years. It includes plug-in electric vehicles and hybrid electric cars with a gasoline engine.
Nissan suffered a net loss worth $4.5 billion this year due to weak global travel demand amid the coronavirus pandemic.
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