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NissanBNN
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74% Informative
Nissan Motor Co.’s struggles to cope with tougher car industry conditions and address internal weaknesses have spiraled.
The automaker announced plans to dismiss 9,000 workers and cut a fifth of its manufacturing capacity.
Nissan also will sell off some of its stake in Mitsubishi Motors after burning through $2.9 billion in cash the last six months .
Nissan is now expecting to produce about 3.2 million vehicles in the year ending in March .
The company also lowered its retail sales outlook to 3.4 million vehicles.
Nissan agreed with Honda Motor Co. and Mitsubishi Motors to work together on software development, batteries and other EV components.
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