The situation in Russia and Ukraine has not improved, Nissan's Russian business has been suspended for half a year

According to foreign media reports, on June 28, Nissan Motor CEO Makoto Uchida said that the company has suspended the first half of the current fiscal year (2022) due to the lack of prospects for improving the situation in Russia and Ukraine. April 1 to September 30, 2022) business operations in Russia.

"We believe the situation in Russia and Ukraine may become more serious and protracted," a Nissan spokesman quoted Makoto Uchida as saying at the company's annual shareholder meeting. Uchida said workers had been notified and the company would continue to monitor the situation. Minimize impact.

Image credit: Nissan

In March, Nissan suspended production and exports in Russia following the escalation of the situation in Russia and Ukraine.However, analysis by Teikoku Databank based on a survey by the Yale School of Management showed that only 2.4% of Japanese companies operating in Russia have suspended local operations since the escalation in Russia-Ukraine, the lowest among the Group of Seven (G7) nations. .

Nissan's partner Renault officially withdrew from Russia in May after growing criticism of the company's continued operations in the country.

At the annual shareholder meeting, Uchida also said Nissan had been in talks with Renault about the future of the alliance'selectric vehicles, after Renault hinted it would break up its electric vehicle division.Renault said in April that when it came to overhauling its business to deal with the auto industry's rapid transition to electrification, all options were being considered - including breaking up its electric car business and listing it separately.Nissan's chief operating officer said last month that it was too early for Nissan, the electric-car pioneer that launched the 2010 Leaf, to consider spinning off its electric-car division.