YOKOHAMA, Japan -- Nissan President and CEO Makoto Uchida says the automaker will "take advantage of the scale of the alliance" with Renault and Mitsubishi Motors in electrification technology, which he sees as a source of future revenue. He also says electrification may drive a restructuring in the auto industry and didn't deny the possibility of expanding the alliance.
Because of a failed expansion strategy, Nissan is expected to post losses of more than 600 billion yen ($5.68 billion) in the fiscal year that ends March 2021, the second straight year in which losses have topped that level. During its 1999 deterioration of earnings and financial conditions, Nissan received financing from Renault, and the French company's Carlos Ghosn was sent in to improve the Japanese automaker's performance.
