Nissan to Slash Production by 20% Due to Impacts from COVID-19 Pandemic
Japanese carmaker Nissan has announced that it will cut production capacity by 20% and will shut down its vehicle manufacturing plant in Barcelona, Spain as part of a company overhaul. This comes after Nissan revealed its first annual operating loss in more than a decade. This comes a day after Nissan Renault and Mitsubishi said they would deepen their alliance. The companies will make fewer models, share production facilities and focus on the existing geographic and technological strengths of each carmaker as they try to slash costs until the Coronavirus pandemic comes to an end.