[Alpha Biz= Reporter Kim Jisun] According to a report by Nikkei on the 22nd, Nissan Motor in Japan has closed its first factory in China due to competition from Chinese electric vehicles (EVs). The factory, located in Changzhou, Jiangsu Province, was the smallest among Nissan's eight factories in China but had shown the fastest growth since production began in November 2020.

Nikkei explained that Nissan's decision to close the factory was influenced by intense price competition with local manufacturers and limited success in selling electric vehicles that are popular in China.

Nissan's sales in China last year fell by 16% compared to the previous year, reaching 790,000 units, marking the fifth consecutive year of decline. Other Japanese companies are also scaling back or withdrawing from the Chinese market. Toyota's sales from January to last month decreased by 10% year-on-year to 630,000 units, while Honda saw a 17% decline to 340,000 units during the same period. In response, Honda decided to reduce staff at its Chinese joint venture last month.

 

 

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