Nissan Considers Plant Closures in Global Overhaul

Nissan Motor Co. is undertaking a major global restructuring under new CEO Ivan Espinosa as part of its 'Re:Nissan' plan, prompted by a $4.5 billion net loss in fiscal 2024. The company is considering closing its historic Oppama and Shonan plants in Japan, but no final decisions have been made. The plan includes reducing global production plants from 17 to 10, cutting 20,000 jobs by fiscal 2027–2028, and targeting $3.4 billion in cost reductions. Nissan has announced withdrawals from Argentina and India, and may close or restructure facilities in Mexico and South Africa. Local governments in Japan are expressing concern over the potential economic and employment impacts of these changes. Nissan aims to return to profitability by fiscal 2026 by prioritizing market-specific strategies, product streamlining, and accelerating electrification.