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Nissan showed vision as the first legacy auto brand to embrace electric vehicles, back in 2010 with the Leaf. But that foresight hasn’t paid off for the Japanese carmaker. Indeed, Nissan suffered a historically huge annual operating loss last year, leaving a gaping hole in the income statement of controlling shareholder Renault. Plunged into chaos after the arrest of Carlos Ghosn in November 2018 on charges of alleged financial misconduct, the company unveiled last May a four-year restructuring plan that foresees slashing production capacity by one-fifth as it shifts away from a “past focus on inflated expansion.” In the current fiscal year, it is hoping to break even for the first time in three years.
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