Nissan Motor (TYO:7201) will halt production at its Wuhan plant in China by March 2026 as the Japanese carmaker grapples with fierce competition from Chinese rivals, Reuters reported Saturday, citing two sources familiar with the matter.
The plant, leased from Dongfeng Motor (HKG:0489), has produced about 10,000 vehicles since 2022, below its 300,000-unit capacity, the report said.
Nissan also expects a record net loss of between 700 billion yen to 750 billion yen for the year ended March 31 due to impairment charges, Reuters wrote.
Shares of Nissan rose 3% in recent trade on the Tokyo bourse.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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