Nissan Finance CEO Jens Jensen will not be selling his company’s EV business in the United States.
Nissan Finance, which has been criticized for poor corporate governance and poor sales, said on Tuesday it would suspend sales of the LEAF and EV.
It has also announced that it will sell its battery business in 2018.
The announcement comes less than a week after Tesla CEO Elon Musk announced his plans to sell the company and its battery manufacturing business.
“Our goal is to bring EVs to the masses, and our LEAF business has been an important part of our vision for EV growth,” Jensen said in a statement.
“We look forward to bringing EV production to the US market, and we will be announcing our plans for EV sales soon.”
In the statement, Jensen said Nissan will continue to “develop and manufacture EVs in Japan and Europe, as well as provide global EV supply to Nissan dealers in 2018 and 2019.”
Nissan CEO Jenga Nissan will be launching its LEAF EV in the US later this year, and will be “removing LEAF from the market” in 2018, Jensen added.
In his statement, Nissan CEO Jensen said the company has a “long history of investing in innovation in our supply chain” and that “our goal is for LEAF EVs to be the most efficient, environmentally-friendly vehicles on the road.”
The company also said Nissan would continue to develop the LEAD EV and will continue working with other suppliers to provide the vehicles for the United Nations Climate Change Conference in Paris later this month.
“Nissan has a long history of innovation in its supply chain, and its leadership team has led the way to an environment where EV manufacturing is viable and affordable,” Jensen added in the statement.
He added that Nissan will invest heavily in its EV manufacturing capacity, as it will manufacture more EVs than any other company in the world.
“As we continue to invest in our EV manufacturing capability, we will build on our current investments to expand EV production and further our commitment to supporting the environment.”
Jensen’s announcement came less than three weeks after Nissan announced that its EV factory in Mexico will cease production this year.
The company said in September that it would close the factory by the end of 2018, and that it planned to build up to 200,000 LEAFs in the U.S. before the end, with the company saying that it plans to keep building its manufacturing capacity in Mexico until 2019.
The factory is expected to be used to build the LEAFL-based LEAF sedan.