Nissan's EV Plans:
Nissan is reassessing its battery-electric vehicle (BEV) plans and investments.
– The automaker has halted development on electric sedans planned for its Canton, Mississippi plant.
– Initial production for a Nissan-branded BEV sedan was set for 2025, with an Infiniti version to follow.
Production Delays:
This marks the second delay, pushing timelines from June 2026 to November 2026.
– A $500 million investment to convert the Canton plant into an EV hub is also postponed.
Current Production:
Canton currently builds the Altima, Frontier, and Titan.
– Production capacity is 410,000 units/year, but projections are around 210,000 units for the financial year ending March 2025.
Future Production Plans:
Nissan is considering prioritizing crossover production over sedans.
– The revised plan may include two midsize crossovers and a third electric crossover, codenamed PZ1L.
Market Conditions:
EV sales are increasing but at a slower rate than previous years.
– Cox Automotive reported a 2.6% increase in Q1 EV sales this year compared to a 46% increase in Q1 2023.
– Nissan saw a 7% increase in overall sales in Q1 compared to last year.
Supplier and Market Strategy:
Nissan aims to inform suppliers about new plans next month. Some suppliers are skeptical, predicting a longer delay.
– Nissan may wait until after the upcoming presidential election to finalize long-term plans.
Future Timeline:
If plans proceed as scheduled, Nissan will start assembling its electric sedan in November 2026.
– The Infiniti version is expected to follow in April 2027.
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