From Yahoo Finance: 2025-05-08 20:06:00

Nissan Motor cancels $1.1 billion battery factory plan in Japan’s Kyushu, signaling restructuring efforts. The company also plans to offer early retirement to hundreds of staff in Japan, its first headcount reduction at home in 18 years. CEO Ivan Espinosa is overseeing restructuring, including job cuts and plant closures.

The battery plant was set to create 500 jobs and receive a government subsidy of up to 55.7 billion yen. Nissan expects a record net loss of 700-750 billion yen for the past financial year. Full-year financial results will be announced on Tuesday, including updates on recovery actions.

Nissan’s decision to cancel the battery plant and offer early retirement comes as part of immediate turnaround actions to recover performance. The company aims to scale back domestic market ambitions and improve investment efficiency. This move follows a series of restructuring efforts, including job cuts and capacity reductions.



Read more at Yahoo Finance: Nissan abandons plan for $1.1 billion EV battery plant in southern Japan