The merger of Nissan and Renault was postponed for some reasons. The postponement of the merger and the decision to lay off employees affected thousands of employees. Currently, Nissan has decided to reduce its global lineup of vehicles by 20%.
Currently, the developer is experiencing a loss for the first time in 11 years. The executives of the company decided to reorganize the plan and cut several models to reduce costs.
The plan may reduce the number of 69 products to 55, but it is not clear which model is being cut.
Currently the developer has released 12 new models, including a redesigned Frontier and a trailer for the new Z model.
The developer will also cut production by 20% to only 5.4 million units per year. It also closed the plant in Barcelona, Spain, and the reduced expenses could help the developer save $2.8 billion in fixed costs.
The CEO of the developer issued a statement stating that while improving the quality of the business, it maintains financial discipline to ensure that the unit’s net income is profitable. He also said that this plan coincided with the restoration of the culture defined by “Nissan” in the new era.
The developer plans to launch 12 models in the next 18 months. Originally scheduled to launch 1 million hybrid and fully electric vehicles in early 2022, it was postponed to 2023.
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