Factory that symbolised Nissan's rise may become victim of its decline
When Nissan's Oppama plant opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of the company's global ambitions. Sixty-four years and millions of cars later, the storied plant now faces possible closure as Nissan sinks deeper into crisis.
New Chief Executive Ivan Espinosa unveiled sweeping cost cuts this month that included plans to shed 15% of the global workforce and close seven factories worldwide. Battered by declining sales in the United States and China, Nissan faces a mountain of debt repayment and is scrambling to upgrade its aging lineup of vehicles.
The Japanese automaker hasn't said which of its 17 plants will be closed. Oppama, in the port city of Yokosuka south of Tokyo, is being considered, as is another smaller plant in Japan. Factories in South Africa, India, Argentina and Mexico could also be closed.
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