Nissan cuts 9,000 jobs and goes into ’emergency’ mode
Nissan is in full-throttle emergency mode to save itself: the automaker is cutting 9,000 jobs, slashing production capacity, and selling off its stake in Mitsubishi Motors. The CEO is also reducing his own salary by half.
CEO Makoto Uchida – who took the job amid the epic Carlos Ghosn disaster – today unveiled a “sweeping” reform plan after announcing the company had fallen to a net loss in the latest quarter, Reuters reports.
Uchida “also downgraded the full-year sales and operating profit outlooks and rescinded an earlier target for net income,” the report said, adding that he said it was too soon to provide an accurate forecast.
The reform package will include shuffling around some executives, such as giving Nissan chairman Guillaume Cartier, who oversees Europe, Africa, the Middle East, India, and Oceania, a promotion as the newly created chief performance officer.
Also, Uchida said he would take a 50% pay cut starting this month to help out. (A Google search showed that it looks like he makes roughly 657 million yen, or about $4.30 million, a year.) Its global headcount of 133,580 staff will see a massive reduction of 9,000 workers.
The new reform looks to save the company $3 billion.
“The question is how to do it fast and adapt to reality,” Uchida said at a news conference. “We cannot deny the fact that our sales plan was overstretched given the rapid changes in markets.”
Uchida is looking to cut global capacity by 20% to bring its production capacity worldwide to 5 million units. The automaker has 30 new or updated products in the lineup, and while it doesn’t plan to cancel them, it will likely push back launch dates depending on market needs.
Of course, a major issue with Nissan is that its EVs are just sort of bland: all it has on offer is the Ariya and the Leaf, neither of which are hot sellers in the US. Nissan says it will continue to offer bidirectional, vehicle-to-grid technology on newly launched EVs starting in 2026, joining alliance partner Renault in bundling the technology.
Nissan is also selling off nearly a third of its 34% stake in Mitsubishi, freeing up an additional $482.7 million. Back in the Ghosn days, Nissan took a controlling 34% stake in Mitsubishi, but even after the sale, Nissan said it should remain Mitsubishi’s largest shareholder. Its alliance with Renault has committed around $5.2 billion into itsEV and battery development programs.
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Slate Auto, a new EV startup backed by Jeff Bezos, has poached a key Tesla manufacturing leader to build its electric pickup truck factory in Indiana.
Napoleon Reyes is a US Marine from Indiana who got a degree in mechanical engineering from Purdue after leaving the force.
He then worked a few years at Subaru and Wabash before joining Tesla’s manufacturing team at the Fremont Factory in 2020.
There, he became part of the Model Y production ramp and was quickly promoted to lead the Model Y General Assembly in Fremont in 2022.
Reyes led Model Y GA, one of the most critical parts of vehicle manufacturing, for more than a year before being promoted again to lead new pilot processes at the factory.
Most recently, he led the launch of the general assembly line for the Model Y refresh.
The new engineering manager announced this week that he is leaving Tesla to join Slate:
A bit late on the post but after nearly 5 years working at Tesla in Fremont, I made the difficult decision to leave the Company and move closer to home with my family. It was an incredible experience being part of multiple line expansions and multiple Model Y program launches. Leading and managing the Model Y Refresh launch for GA in Fremont this year tested me professionally however we ultimately succeeded due to our amazing cross functional team collaboration. It’s been an absolute pleasure working with such great people, and I will forever be proud and thankful for everything we accomplished together.
I will be taking on a new role as Senior Manager, Plant Vehicle Engineering at Slate Auto in Warsaw, In.
Slate emerged from stealth mode earlier this year to unveil a new type of electric pickup truck featuring modular customization and an affordable price.
The company raised over $700 million through two rounds of investments from several different investors, including Jeff Bezos. It is currently raising more, which basically guarantees that it will be able to reach production.
The startup acquired a former printing plant in Warsaw, Indiana. It is currently converting to manufacture its electric pickup with a team from legacy automakers and also several former engineers and leaders from Tesla.
Rich Schmidt, an early Tesla manufacturing director, is the head of manufacturing.
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Genesis is preparing to shake things up with its most luxurious SUV yet, the GV90. Thanks to a new patent filing, we are getting a detailed look at how its Rolls-Royce-style coach doors will work.
New patent reveals Genesis GV90 coach door system
When Genesis first unveiled the full-size SUV at the NY Auto Show last March, it wasn’t the stunning design or advanced tech that caught everyone’s attention. It was the coach doors.
Although we were worried it wouldn’t make it to the production model, like many concepts, the Genesis GV90 will be offered with coach doors.
The ultra-luxe electric SUV was first caught with coach doors earlier this year on a car carrier in South Korea. Just last month, the GV90 was spotted in California with a hinge at the rear to open the coach doors.
After several new patents were filed with the United States Patent and Trademark Office for new door latching devices, we are getting a sneak peek at how they are expected to work.
The patents, titled “Cinching Device For Door Latches in Vehicle,” and “Door Latch Device for Vehicles,” give a pretty detailed explanation of how the Genesis GV90’s coach doors will operate. The “Door Latch Device” uses a door striker on the lower side of the door, which is opened or closed by a hinge unit.
Unlike traditional doors, which use the B-pillar for support, the device is attached directly to the door itself, allowing for hinge-like movement.
The cinching device works in a similar way. It’s also attached to the door and part of the vehicle. However, unlike most of its kind, Genesis found a way to use a single cinching device to control multiple units. Again, the device is used for B-pillarless doors that swing open.
Genesis already said that B-pillarless coach doors are now feasible in production vehicles. The patent reveals a glimpse into how the luxury automaker could make it a reality.
Although the Genesis GV90 is expected to be offered with coach doors, they will likely not be standard. Other variants, with traditional door handles, have also been spotted testing in the US and South Korea.
Genesis is expected to launch the GV90 in mid-2026. It will be built at Hyundai’s Ulsan plant in South Korea. The flagship Genesis SUV is scheduled to debut on Hyundai’s new eM platform, which the company said will “provide 50% improvement in driving range.” It will also be loaded with the latest technology, software, connectivity, and Level 3 or higher autonomous driving capabilities.
Source: USPTO
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Environment
Podcast: Tesla Model YL, more Tesla probes and lawsuits, new Nissan Leaf pricing, and more
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the launch of the Tesla Model YL, more Tesla probes and lawsuits, new Nissan Leaf pricing, and more.
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After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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