Nissan plans to cut production capacity of joint ventures in China by 30%

Japanese automaker Nissan is reportedly under pressure to re-formulate its strategy in China as China accelerates its shift to electric vehicles. It is reported that Nissan plans to cut 30% of the production capacity of its joint venture factories in China, which will affect its performance in the Chinese market. Although Nissan's annual production capacity in China is about 1.6 million units, its sales in China in 2023 were only 793,000 units, a year-on-year decline of 24%. Even with a 30% reduction in production capacity, Nissan's annual production capacity can still meet market demand.