ukwe. Tokyo ⋅ Japanese carmaker Nissan Motor has returned to profit for the first time since the sacking of former boss Carlos Ghosn. Nissan on Thursday reported an additional 215 billion yen for the financial year ended March in Yokohama. Revenue rose 7.1 percent to 8.4 trillion yen. Over the past two years, the Nissan company suffered losses after the company hit the headlines after parting ways with Ghosn, intimidating customers and trying to find a reason again by using the “quality over quantity” formula. Nissan sold 3.87 million cars in the last financial year, down 4 percent from the previous year. Driven by the Ghosn expansion strategy, four years ago Nissan sold 5.8 million cars a year.
A surprise split from Ghosn, who was accused of embezzlement in Japan and later fled to Lebanon, had shaken the Renault-Nissan-Mitsubishi Motor alliance. Even after repeated management changes in Nissan and Renault, tensions do not seem to be over yet. Renault boss Luca de Meo plans to set up a new company that will focus exclusively on electric vehicles. Of the three alliance partners, Renault has the least experience and new drives. Nissan boss Makoto Uchida calmly commented on the plans on Thursday. “We are able to support the Renault initiative,” Uchida said. However, he called for talks to be held before the deal could strengthen the alliance. There are also rumors that Renault may want to withdraw its shares in Nissan in order to secure investment capital.