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Japan Today
21 hours ago
- Automotive
- Japan Today
Skidding Nissan to halt production at Oppama plant in Kanagawa Prefecture
Nissan posted a net loss of 671 billion yen ($4.5 billion) last year and it has said it will cut 15 percent of its global workforce Struggling auto giant Nissan said Tuesday it will stop production at its plant at Oppama in Yokosuka, Kanagawa Prefecture, at the end of its 2027 fiscal year. Nissan posted a net loss of 671 billion yen last year and it has said it will cut 15 percent of its global workforce. "The company will cease vehicle production at the Oppama plant at the end of fiscal year 2027," Nissan said in a statement. Production of the plant outside of Yokahama will be shifted to another existing factory in Fukuoka Prefecture, Kyushu, it said. One of Nissan's six domestic plants, Oppama employed around 3,900 people as of October 2024 and began operations in 1961, according to the company's website. It was a "pioneer in the production of advanced vehicles, such as the Nissan LEAF, the world's first mass-market electric vehicle," it said. The heavily indebted carmaker, whose mooted merger with Japanese rival Honda collapsed this year, is slashing production as part of its expensive business turnaround plan. Nissan said in May it would "consolidate its vehicle production plants from 17 to 10 by fiscal year 2027". Like many peers, Nissan is finding it difficult to compete against Chinese electric vehicle brands. The merger with Honda had been seen as a potential lifeline but talks collapsed in February when the latter proposed making Nissan a subsidiary. Nissan has faced numerous speed bumps in recent years -- including the 2018 arrest of former boss Carlos Ghosn, who later fled Japan concealed in an audio equipment box. Ratings agencies have downgraded the firm to junk, with Moody's citing its "weak profitability" and "aging model portfolio". This year Nissan shelved plans, only recently agreed, to build a $1-billion battery plant in southern Japan owing to the tough "business environment". Of Japan's major automakers, Nissan is seen as the most exposed to US President Donald Trump's 25-percent tariff imposed on imported Japanese vehicles earlier this year. This is because its clientele has historically been more price-sensitive than that of its rivals, according to experts. One potential solution for Nissan could be Taiwanese electronics behemoth Hon Hai, better known as Foxconn, which assembles iPhones and is expanding into cars. Foxconn said in February it was open to buying Renault's stake in Nissan. © 2025 AFP
Yahoo
a day ago
- Automotive
- Yahoo
Nissan says Oppama plant will stop production by March 2028
YOKOHAMA (Reuters) -Nissan Motor Co will stop producing vehicles at its Oppama plant in Japan by March 2028 and transfer operations to its factory in the southern prefecture of Fukuoka as part of a global restructuring plan to cut capacity, it said on Tuesday. Japan's third-largest automaker will also cease production at Nissan Shatai's Shonan factory that builds light commercial vehicles by March 2027, CEO Ivan Espinosa said. Espinosa has announced sweeping plans aimed at turning around the embattled automaker, including slashing global production capacity to 2.5 million vehicles from 3.5 million and manufacturing sites to 10 from 17. Reuters reported last week that Nissan was in talks to allow Taiwan's Foxconn to use the Oppama factory, in the port city of Yokosuka, south of Tokyo, to produce EVs and avert a closure. "It was a difficult decision for both myself and the company," Espinosa told reporters at the automaker's headquarters in Yokohama. "However, we believe it is necessary for Nissan to overcome its current challenging situation." Espinosa said Nissan was exploring various options for repurposing the assets in negotiations with "multiple partners", declining to elaborate, citing confidentiality agreements. Costs related to the transfer of production to Nissan Motor Kyushu will be disclosed along with first-quarter financial results, Nissan said. When the Oppama factory opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of Nissan's - and Japan's - global ambitions. Long referred to as Nissan's "mother factory", it employs 3,900 workers and has produced more than 17.8 million vehicles to date. Other facilities and functions in the district such as the Nissan Research Center and a crash-test facility will be unaffected, Nissan said. Espinosa said that about 2,400 workers from the Oppama factory could be transferred to non-factory functions or to other plants. Battered by declining sales in the United States and China, Nissan faces large debt repayments and mounting losses. Espinosa said factory utilisation at Nissan's domestic factories remained low, at an average of 60%. Once production from Oppama moves to Nissan Motor Kyushu, utilisation would rise at the latter to 100%, he said.
Yahoo
a day ago
- Automotive
- Yahoo
Skidding Nissan to halt production at Japanese plant
Struggling auto giant Nissan said Tuesday it will stop production at its plant at Oppama in Japan at the end of its 2027 fiscal year. Nissan posted a net loss of 671 billion yen ($4.5 billion) last year and it has said it will cut 15 percent of its global workforce. "The company will cease vehicle production at the Oppama plant at the end of fiscal year 2027," Nissan said in a statement. Production of the plant outside of Yokahama will be shifted to another existing factory on the southern Japanese island of Kyushu, it said. One of Nissan's six domestic plants, Oppama exmployed around 3,900 people as of October 2024 and began operations in 1961, according to the company's website. It was a "pioneer in the production of advanced vehicles, such as the Nissan LEAF, the world's first mass-market electric vehicle," it said. The heavily indebted carmaker, whose mooted merger with Japanese rival Honda collapsed this year, is slashing production as part of its expensive business turnaround plan. Nissan said in May it would "consolidate its vehicle production plants from 17 to 10 by fiscal year 2027". Like many peers, Nissan is finding it difficult to compete against Chinese electric vehicle brands. The merger with Honda had been seen as a potential lifeline but talks collapsed in February when the latter proposed making Nissan a subsidiary. Nissan has faced numerous speed bumps in recent years -- including the 2018 arrest of former boss Carlos Ghosn, who later fled Japan concealed in an audio equipment box. Ratings agencies have downgraded the firm to junk, with Moody's citing its "weak profitability" and "ageing model portfolio". This year Nissan shelved plans, only recently agreed, to build a $1-billion battery plant in southern Japan owing to the tough "business environment". Of Japan's major automakers, Nissan is seen as the most exposed to US President Donald Trump's 25-percent tariff imposed on imported Japanese vehicles earlier this year. This is because its clientele has historically been more price-sensitive than that of its rivals, according to experts. One potential solution for Nissan could be Taiwanese electronics behemoth Hon Hai, better known as Foxconn, which assembles iPhones and is expanding into cars. Foxconn said in February it was open to buying Renault's stake in Nissan. stu/hmn Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hindu
a day ago
- Politics
- The Hindu
Congress targets Jaishankar's visit to China, Rahul Gandhi says India's foreign policy is being ‘destroyed'
The Congress on Tuesday (July 15, 2025) targeted External Affairs Minister (EAM) S Jaishankar's visit to China, with senior leader Rahul Gandhi accusing him of 'running fiull blown circus aimed at destroying India's foreign policy'. 'I guess the Chinese Foreign Minister will come and apprise Mr. Modi about recent developments in China-India ties. The External Affairs Minister is now running a full-blown circus aimed at destroying India's foreign policy,' Mr. Gandhi said in a X post, tagging a media report that said Mr. Jaishankar met Chinese President Xi Jinping in Beijing and apprised him of latest developments in bilateral ties. Earlier, Congress communication chief Jairam Ramesh, issued a statement, questioning Mr Jaishankar's assertion during his meeting with China's Vice President Han Zheng on July 14. Noting that the External Affairs Minister stated that the India-China bilateral relationship 'has been steadily improving since the meeting between Prime Minister Narendra Modi and President Xi Jinping in Kazan last October' and that 'continued normalisation of our ties can produce mutually beneficial outcomes,' Mr. Ramesh sought to remind him of China's recent positioning with regard to India. The Congress leader stressed that it is essential to build a national consensus on the critical security and economic challenges arising from China's rise as the world's leading manufacturing power and its position as the second-largest economy. 'Perhaps we should remind the EAM of recent developments in bilateral ties since the PM's last tete-a-tete with President Xi: China gave total support to Pakistan during Operation Sindoor, turning it into a testing ground for network-centric warfare and weapon systems such as the J-10C fighter and PL-15E air-to-air missile and assorted drones,' he said in a statement. He added that Deputy Chief of Army Staff Lt Gen Rahul R Singh has stated that India fought three adversaries in Sindoor, including China that gave Pakistan 'live inputs' i.e. real time intelligence on Indian military operations and soon they are likely to acquire Chinese J-35 stealth fighters in the near future. Further, Mr. Ramesh argued that China has restricted exports to India of critical materials like rare-earth magnets, speciality fertilisers, and tunnel-boring machines for infrastructure projects. Important sectors like telecoms, pharmaceuticals, and electronics remain critically dependent on Chinese imports, while hundreds of Chinese workers have departed from India's Foxconn facilities, potentially impeding India's attempt to become an alternative global supplier of Apple smart phones, he added. 'When are the External Affairs Minister and his boss the PM going to take the people of India into confidence and hold a detailed debate on China in Parliament — as the Indian National Congress has been calling for since 2020. The INC hope that the Prime Minister will finally agree to such a discussion and break the five-year drought in the forthcoming Monsoon session of Parliament,'Mr Ramesh asked. And in a separate press conference, Congress social media head Supriya Shrinate said while the EAM reaches out to China, who openly backed Pakistan during Ops Sindoor, not a single terrorist involved in the Pahalgam terror attack has been arrested so far.
CNA
a day ago
- Automotive
- CNA
Nissan says Japanese plant will stop production by March 2028
YOKOHAMA: Nissan Motor Co will stop producing vehicles at its Oppama plant in Japan by March 2028 and transfer operations to its factory in the southern prefecture of Fukuoka as part of a global restructuring plan to cut capacity, it said on Tuesday (Jul 15). Japan's third-largest automaker will also cease production at Nissan Shatai's Shonan factory that builds light commercial vehicles by March 2027, CEO Ivan Espinosa said. Espinosa has announced sweeping plans aimed at turning around the embattled automaker, including slashing global production capacity to 2.5 million vehicles from 3.5 million and manufacturing sites to 10 from 17. Reuters reported last week that Nissan was in talks to allow Taiwan's Foxconn to use the Oppama factory, in the port city of Yokosuka, south of Tokyo, to produce EVs and avert a closure. "It was a difficult decision for both myself and the company," Espinosa told reporters at the automaker's headquarters in Yokohama. "However, we believe it is necessary for Nissan to overcome its current challenging situation." Espinosa said Nissan was exploring various options for repurposing the assets in negotiations with "multiple partners", declining to elaborate, citing confidentiality agreements. Costs related to the transfer of production to Nissan Motor Kyushu will be disclosed along with first-quarter financial results, Nissan said. When the Oppama factory opened in 1961, it was one of Japan's first large-scale auto factories and a symbol of Nissan's - and Japan's - global ambitions. Long referred to as Nissan's "mother factory", it employs 3,900 workers and has produced more than 17.8 million vehicles to date. Other facilities and functions in the district such as the Nissan Research Center and a crash-test facility will be unaffected, Nissan said. Espinosa said that about 2,400 workers from the Oppama factory could be transferred to non-factory functions or to other plants. Battered by declining sales in the United States and China, Nissan faces large debt repayments and mounting losses. Espinosa said factory utilisation at Nissan's domestic factories remained low, at an average of 60 per cent. Once production from Oppama moves to Nissan Motor Kyushu, utilisation would rise at the latter to 100 per cent, he said.
