Yomiuri: Nissan Motor Drops Plan for Kitakyushu EV Battery Plant -- Update

Dow Jones

2025/05/09

By Shingo Hashitani / Yomiuri Shimbun Staff Writer

Nissan Motor Co. has abandoned a plan to construct an electric vehicle (EV) battery factory in Kitakyushu, the company said Friday.

In January, the company signed an agreement with Fukuoka Prefecture and the city of Kitakyushu on the construction of the factory. However, sluggish worldwide sales have forced the automaker to review its production plans. The surprising move to drop the plan at such an early stage provides Nissan Motor with an opportunity to accelerate its recovery efforts.

Nissan Motor President Ivan Espinosa visited the Fukuoka prefectural government office on Friday and reported the company's decision to withdraw from the plan to Fukuoka Gov. Seitaro Hattori and Kitakyushu Mayor Kazuhisa Takeuchi.

According to the prefecture, Espinosa explained that the company concluded it had no other option but to abandon the plan after considering the return on investment.

Under the plan, 153.3 billion yen was to be invested in the factory. Construction would have commenced in fiscal 2025 and operations would have begun in fiscal 2028.

Nissan decided on the withdrawal in late April, according to company officials.

Toyota Motor Corp. has similar plans to build an EV battery factory in the town of Kanda in the prefecture. However, the automaker postponed signing an agreement with the prefecture on the construction of the factory and is now reviewing that plan. The signing of the agreement had been scheduled for April.

This article is from The Yomiuri Shimbun. Dow Jones Newswires and The Wall Street Journal were not involved in the creation of this content.

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(END) Dow Jones Newswires

May 09, 2025 08:45 ET (12:45 GMT)

Copyright (c) 2025 The Yomiuri Shimbun

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However, sluggish worldwide sales have forced the automaker to review its production plans. The surprising move to drop the plan at such an early stage provides Nissan Motor with an opportunity to accelerate its recovery efforts. \n</p>\n<p>\n  Nissan Motor President Ivan Espinosa visited the Fukuoka prefectural government office on Friday and reported the company's decision to withdraw from the plan to Fukuoka Gov. Seitaro Hattori and Kitakyushu Mayor Kazuhisa Takeuchi. \n</p>\n<p>\n  According to the prefecture, Espinosa explained that the company concluded it had no other option but to abandon the plan after considering the return on investment. \n</p>\n<p>\n  Under the plan, 153.3 billion yen was to be invested in the factory. Construction would have commenced in fiscal 2025 and operations would have begun in fiscal 2028. \n</p>\n<p>\n  Nissan decided on the withdrawal in late April, according to company officials. \n</p>\n<p>\n  Toyota Motor Corp. has similar plans to build an EV battery factory in the town of Kanda in the prefecture. However, the automaker postponed signing an agreement with the prefecture on the construction of the factory and is now reviewing that plan. The signing of the agreement had been scheduled for April. \n</p>\n<p>\n  This article is from The Yomiuri Shimbun. Dow Jones Newswires and The Wall Street Journal were not involved in the creation of this content. \n</p>\n<p>\n  YDN-m0000112410-1 \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 09, 2025 08:45 ET (12:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 The Yomiuri Shimbun\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NSANY","symbol_name":"日产汽车","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2534815774","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2534815774","pubTimestamp":1746794700,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"By Shingo Hashitani / Yomiuri Shimbun Staff Writer. Nissan Motor Co. has abandoned a plan to construct an electric vehicle  battery factory in Kitakyushu, the company said Friday.In January, the company signed an agreement with Fukuoka Prefecture and the city of Kitakyushu on the construction of the factory. However, sluggish worldwide sales have forced the automaker to review its production plans. The surprising move to drop the plan at such an early stage provides Nissan Motor with an opportunity to accelerate its recovery efforts.Nissan Motor President Ivan Espinosa visited the Fukuoka prefectural government office on Friday and reported the company's decision to withdraw from the plan to Fukuoka Gov. Seitaro Hattori and Kitakyushu Mayor Kazuhisa Takeuchi.According to the prefecture, Espinosa explained that the company concluded it had no other option but to abandon the plan after considering the return on investment.Nissan decided on the withdrawal in late April, according to compa","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"NSANY":"日产汽车","BK4099":"汽车制造商"},"translate_title":"读卖新闻：日产汽车放弃北九州电动汽车电池工厂计划——更新","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NSANY":0.9},"content_text":"By Shingo Hashitani / Yomiuri Shimbun Staff Writer \n\n\n  Nissan Motor Co. has abandoned a plan to construct an electric vehicle (EV) battery factory in Kitakyushu, the company said Friday. \n\n\n  In January, the company signed an agreement with Fukuoka Prefecture and the city of Kitakyushu on the construction of the factory. However, sluggish worldwide sales have forced the automaker to review its production plans. The surprising move to drop the plan at such an early stage provides Nissan Motor with an opportunity to accelerate its recovery efforts. \n\n\n  Nissan Motor President Ivan Espinosa visited the Fukuoka prefectural government office on Friday and reported the company's decision to withdraw from the plan to Fukuoka Gov. Seitaro Hattori and Kitakyushu Mayor Kazuhisa Takeuchi. \n\n\n  According to the prefecture, Espinosa explained that the company concluded it had no other option but to abandon the plan after considering the return on investment. \n\n\n  Under the plan, 153.3 billion yen was to be invested in the factory. Construction would have commenced in fiscal 2025 and operations would have begun in fiscal 2028. \n\n\n  Nissan decided on the withdrawal in late April, according to company officials. \n\n\n  Toyota Motor Corp. has similar plans to build an EV battery factory in the town of Kanda in the prefecture. However, the automaker postponed signing an agreement with the prefecture on the construction of the factory and is now reviewing that plan. The signing of the agreement had been scheduled for April. \n\n\n  This article is from The Yomiuri Shimbun. Dow Jones Newswires and The Wall Street Journal were not involved in the creation of this content. \n\n\n  YDN-m0000112410-1 \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 09, 2025 08:45 ET (12:45 GMT)\n\n\n  Copyright (c) 2025 The Yomiuri Shimbun","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}