Driving the news: Nissan is shutting down its historic Oppama plant by March 2028, ending decades of production at the facility that built the world's first mass-produced electric vehicle and currently employs about 2,400 workers.
For context: The closure is part of CEO Ivan Espinosa's broader restructuring plan to cut 20,000 jobs globally and consolidate manufacturing from 17 factories down to 10, reducing annual production from 3.5 million to 2.5 million units.
Why it matters: The plant closure represents a major economic blow to the local Yokosuka area, where hundreds of suppliers and countless local businesses depend on the facility's operations. Espinosa acknowledged the decision was “tough but necessary,” and it is a “vital step” in Nissan’s future operations.
What we're watching: Nissan hasn't decided whether workers will be transferred within the company or how assets will be sold off, with financial details coming during quarterly results on July 30.
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