Overview

• Nissan has officially canceled plans for a ¥153 billion ($1 billion) LFP battery plant in Kitakyushu, citing the need for 'investment efficiency.'
• The decision comes as the company faces a projected ¥750 billion ($5.2 billion) net loss for the fiscal year ending March 2025, its largest ever.
• New CEO Ivan Espinosa, appointed in April 2025, is spearheading a broad restructuring to stabilize the company and improve financial performance.
• Nissan is redirecting $1.4 billion to its China operations, aiming to leverage the competitive market to accelerate its electric vehicle development.
• The scrapped plant was initially expected to reduce EV battery costs by up to 30% and produce 5 GWh annually, but priorities have shifted to short-term viability.