COO: Nissan is on ‘good’ path with profits

Nissan Motor Co.’s profit recovery and electric-vehicle investment plans are placing the automaker on a good path toward future growth, Chief Operating Officer Ashwani Gupta said.

“Our operating profit is positive, and when we’re talking about electrification, this is meaningful,” Gupta told Bloomberg Television’s Manus Cranny in an interview. Gupta’s comments in Dubai follow Nissan’s announcement last week that it will spend 2 trillion yen ($17.6 billion) over the next five years on electrifying more of its fleet.

The COO’S remarks follow statements made Monday by former Nissan Chief Executive Officer Carlos Ghosn. Joining an online briefing from Lebanon, Ghosn, who was removed from Nissan following charges of financial misconduct three years ago, questioned whether Nissan’s current management is capable of guiding the company through the shift to electric vehicles.