By Chris Wack
--Nissan Motor has abandoned plans to produce a compact electric vehicle at its plant in Mississippi, part of its restructuring efforts, Nikkei is reporting.
--The Japanese automaker had planned to produce five EV models in Canton, Miss., starting in 2026, Nikkei says.
--According to Nikkei, a spokesperson for Nissan North America confirmed the change in plans Wednesday, saying the Canton plant is focusing on other EV projects that can be expected to produce more units.
--Nissan plans to cut 9,000 jobs worldwide, with more than 70% expected to come from factories and other production departments, Nikkei reported.
Full story: https://asia.nikkei.com/Business/Automobiles/Electric-vehicles/Nissan-halts-U.S.-production-plans-for-compact-EVs
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
January 23, 2025 10:55 ET (15:55 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.