Nissan drops plan for Fukuoka battery plant to focus on recovery

Nissan has decided to abandon its plan for a battery plant in Fukuoka Prefecture, shifting its focus instead toward addressing its financial crisis. The carmaker had previously announced an ¥153 billion investment in Kitakyushu to build lithium iron phosphate batteries, but now aims to channel its resources into restructuring and improving its leadership team under CEO Ivan Espinosa. Amidst a deepening financial downturn following recent job cuts and production reductions, Nissan is exploring new strategies to revitalize its performance, including increased investments in electric vehicle development despite the absence of direct competition in its lineup.