Investing.com-- Nissan (OTC: NSANY ) Motor Co (TYO: 7201 ) has discontinued development of two electric vehicle (EV) models that were originally planned for production in the United States, the Nikkei reported on Thursday.
The Japanese automaker had aimed to launch four EVs—including a sedan and an SUV—at its Canton, Mississippi plant by 2028. However, development of the sedan has been shelved amid shifting U.S. market dynamics and slowing EV adoption, according to the report.
Facing management pressures and a challenging business environment, Nissan is narrowing its development focus to improve efficiency, Nikkei reported.
The move reflects broader industry caution as automakers reassess EV strategies in response to weaker-than-expected demand and evolving regulatory landscapes.
Shares of the company were trading 3.3% higher, in line with the broader uptick.