Nissan sells its Russia business for just 1 Euro

Japanese automaker Nissan has decided to shut shop in Russia. The brand had to sell its business for just 1 Euro to state-owned entity NAMI, suffering a $687 million loss. The Russia Ukraine war forced the brand to halt operations at its St Petersberg plant in March and hasn’t been able to commence operations since. Nissan becomes the latest global entity to exit Russia amidst the war situation with talks of sister firm Mitsubishi following suits doing rounds.