As it scrambles to turn things around, Nissan is scrapping plans to build a new LFP battery plant in Japan. The facility was expected to be key to reducing EV battery costs to keep up with leaders like BYD. With alarm bells ringing, Nissan is preparing to cut 20,000 jobs, or about 15% of its global workforce.
Nissan abandons plans for new EV battery plant in Japan
Nissan is scrambling to turn the company around. The Japanese automaker announced on Friday that it will “abandon plans to build a new plant” in Japan that was scheduled to produce lithium iron phosphate (LFP) batteries.
The decision comes as Nissan is “considering all options to restore its performance.” Nissan said it will continue working on a strategy for EV batteries “aligned with market needs” as part of its turnaround efforts.
Nissan just received approval to build the new EV battery plant in Japan from the Ministry of Economy, Trade, and Industry (METI) in September.
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The batteries were set to be installed in Nissan’s mini vehicles starting in 2028, part of an investment of over $1 billion (153.3 billion yen).
Nissan was scheduled to receive up to 55.7 billion yen ($384 million) in government support to help build a domestic supply chain.
Like other Japanese automakers, Nissan is facing weaker sales in key markets like China and North America. The company posted a net loss of 671 billion yen ($4.5 billion) for the fiscal year ending March 2025.
The new LFP plant was expected to help Nissan cut EV battery costs by 20% to 30%, with up to 5 GWh annual production capacity.
Nissan’s new LEAF EV (Source: Nissan)
Later this year, Nissan will launch the next-gen LEAF in the US and Canada. After unveiling the updated EV in March, Nissan claimed the new LEAF will have “significant range improvements.”
Nissan’s upcoming lineup for the US, including the new LEAF EV and “Adventure Focused” SUV (Source: Nissan)
Nissan dropped the iconic hatch design for a more crossover-like profile. It will also come with a native NACS port to access Tesla Superchargers.
Although official specs and pricing will be revealed closer to launch, Nissan’s vehicle programs chief, Francois Bailly, told TopGear.com that the new LEAF is expected to have 373 miles (600 km) driving range (WLTP).
Update 5/13/25: Nissan announced plans to cut 20,000 jobs globally by fiscal year 2027, more than double the 9,000 it previously announced. Last year, Nissan had over 133,000 employees.
The reduction is part of its new recovery plan, “Re:Nissan,” launched on Tuesday to cut costs and improve efficiency. Nissan aims to cut costs by 250 billion yen to return to profitability by fiscal year 2026.
By FY27, Nissan will close seven production plants, including one in Thailand. The other plants have yet to be announced, but the company said it will consolidate global production plants from 17 to 10.
Despite this, Nissan said it will still collaborate with partners, including Mitsubishi, which will use the next-gen LEAF as a basis for a new EV in North America.
This is a developing story. Check back soon for the latest information.
Electrek’s Take
Although Nissan cited “market needs” and is looking to cut costs as part of its turnaround plans, abandoning the LFP battery plant will likely only set it back further in the long run.
BYD and other leading EV brands are quickly gaining market share in key regions like Southeast Asia, Central, and South America, as well as parts of Europe, where Japanese automakers like Nissan and Toyota generate a good portion of sales.
Now, BYD is taking aim at Japan. The Chinese automaker plans to launch its first mini EV, or kei car, next year, which is expected to be “a huge threat” to Japanese automakers.
Nissan’s decision comes a day after Toyota’s President, Koji Sato, said the company is “reviewing” plans to sell 1.5 million EVs by 2026.
Save up to 46% on Segway EVs for Prime Day, like the premium Max G3 smart e-scooter at $1,100 (Reg. $1,200), more
Segway has launched its Fall Prime Day Sale, with up to 46% discounts on a selection of its EVs directly from its website, as well as through Amazon. One notable price cut that’s been a long time coming is the Segway Max G3 Electric Scooter dropping to $1,099.99 shipped, with the price matched at Amazon too. It carries a $1,500 MSRP, though we’ve seen it keep down at $1,200 for the majority of the year since releasing in March, save for the $900 and $1,000 pre-sale and launch deals. Aside from those first-time discounts, you’re otherwise getting the best price since during this event, giving you $100 off the going rate for the third-best price we have tracked. Head below for more on this advanced cruiser and the other models benefiting from discounts.
The latest generation in the series, Segway’s Max G3 e-scooter, picks up the mantle from its beloved second-generation predecessor and takes things further with upgrades, like the 800W motor that can peak as high as 2,000W to tackle up to 30% inclines and hit top speeds of 20/28 MPH. Featuring a boost mode, acceleration can be ramped up getting you from 0 to 15.5 MPH in 2.4 seconds before increasing further up to its higher speeds. There’s also the 597Wh battery that allows for up to 50 miles of travel after only 3.5 hours of charging – which can be cut down to 2.5 hours by using the alternate DC charging cable simultaneously with the AC cable.
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Some of the Segway Max G3’s upgraded features include the Stability Enhancement System, as well as the Apple Find My inclusion, so you’ll always know where it is, especially if unfortunately stolen – plus, proximity locking and unlocking for even more bolstered security. You’ll also be getting dual suspension, 11-inch self-sealing tires, the automatic 6W headlight, underglow deck lighting, and a 2.4-inch smart TFT display, which provides navigation, caller ID, and smart charge management through your phone.
Score $2,000 in exclusive savings on EcoFlow’s DELTA Pro Ultra power station with a FREE 400W solar panel at $3,799 low
Folks looking for significantly more backup power support to cover home systems will find an ample opportunity in the exclusive savings we’ve got for our readers from Wellbots, where you can now pick up the EcoFlow DELTA Pro Ultra Portable Power Station with a FREE 400W solar panel for $3,799 shipped, after using the code 9TODPU5 at checkout for an additional 5% off. Dropping down from its $5,799 MSRP to $3,999, the extra savings takes the cost back down to the best rate we have tracked, though in the past those deals never included the free solar panel. Not only are you getting $2,000 in exclusive savings for a return all-time low on the initial inverter + battery combo that makes up the base power station, but you’re getting FREE solar gear added on for expanded capabilities.
You can now score Anker’s latest SOLIX C1000 Gen 2 power station at Amazon for a new $379 Prime Day low
Anker’s official Amazon storefront is undercutting its Prime Day Sale on the pricing of its new SOLIX C1000 Gen 2 Portable Power Station that has fallen down to $379 shipped, which beats out the direct sale pricing by $50. This is the latest model from the brand, which has been carrying a $799 MSRP since hitting the market in August, with the discounts we’ve seen up until now dropping costs as low as $429. Now, during the Prime Day event, you can pick it up with $420 slashed from the MSRP for the best new price we have tracked.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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The Volvo EX30 is now even more affordable. Volvo launched the EX30 Single Motor in the US, with prices starting under $40,000, but that’s not all.
Volvo adds cheaper EX30 trim for the 2026 model year
Volvo promised it was coming. Although the cheaper EX30 trim was scheduled to arrive in the US by the end of 2024, Volvo ultimately pushed back its arrival as it ramped up production.
Almost a year later, the Volvo EX30 Single Motor is finally available on Volvo’s US website. Prices for the 2026 Volvo EX30 start at just $38,950. That’s a nearly $6,000 price reduction from the 2025 model, which started at $44,600.
The outgoing model was exclusively available in the 422-hp Twin Motor Performance variant, while the 2026 EX30 gains a new Single Motor version.
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The new EX30 model features a single rear-mounted motor with 268-hp. It’s powered by the same 69 kWh battery pack as the Twin Motor version, but offers an EPA-estimated driving range of up to 261 miles. Upgrading to the Twin Motor Performance, with 253 miles range, costs an additional $6,000.
The Volvo EX30 (source: Volvo)
Volvo offers the Plus package as standard, but you can upgrade to the Ultra grade, which adds Park Pilot Assist, a 360-degree camera with 3D view, and more, for $46,650.
With charging speeds of up to 175 kW, Volvo said the EX30 Single Motor can recharge from 10% to 80% in 28 minutes.
Volvo EX30 interior (Source: Volvo)
Volvo introduced another EX30 variant for the 2026 model year, the more rugged Cross Country version. The 2026 Volvo EX30 Cross Country starts at $48,150 and is only available as an AWD model.
Volvo EX30 Cross Country (Source: Volvo)
The EX30 Cross Country is “engineered to move effortlessly from city streets to snowy trails and rugged backroads,” Volvo said. It offers higher ground clearance, a blacked-out grille, skid plates, wide wheel arches, and more, perfect for both on- and off-road adventures. It offers a driving range of 227 miles.
2026 Volvo EX30 trim
Starting Price
Driving Range
Volvo EX30 Single Motor, Plus
$38,950
261 miles
Volvo EX30 Twin Motor Performance, Plus
$44,900
253 miles
Volvo EX30 Twin Motor Performance, Ultra
$46,600
253 miles
Volvo EX30 Cross Country
$48,150
227 miles
2026 Volvo EX30 prices and range by trim in the US
The new EX30 is part of Volvo’s revamped 2026 lineup, which also includes significant improvements to the larger EX90. Volvo’s three-row electric SUV now has faster charging times and more computing power than ever.
Volvo’s popular Black Edition package is now available on the EX40, its first EV to receive the blacked-out design upgrade.
Interested in trying one out for yourself? You can use our links below to find Volvo EX30, EX40, and EX90 models available in your area.
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After cutting prices on its top-selling electric vehicle by nearly $10,000 in the US, Hyundai is now bringing the savings to new markets. Hyundai is offering discounts of over $34,000 on some of its EVs overseas.
Hyundai is discounting EVs in the US and overseas
Last week, Hyundai announced it was reducing prices on the 2026 IONIQ 5 by up to $9,800 in the US. The 2026 IONIQ 5 starts at just $35,000, making it one of the most affordable EVs available alongside the Chevy Equinox EV and the Nissan LEAF.
Hyundai said the generous EV discounts reflected its “commitment to affordability” as part of its long-term strategy.
Record vehicle sales and higher output at its new EV plant in Georgia are helping reduce costs, which the company said it’s now passing on to buyers.
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The massive EV discounts are starting to pile up after Hyundai cut prices in another market on Tuesday. After launching a series of special offers in Australia on Tuesday, Hyundai is discounting some of its EVs by more than $34,000.
The Hyundai Kona Electric (Source: Hyundai Australia)
According to TheDriven, Hyundai reduced prices on select IONIQ 5, IONIQ 6, Inster EV, and Kona Electric models by up to $34,142.
Hyundai’s most affordable electric car, the Inster (which is sadly not sold in the US), received a $3,925 price reduction, and now starts at under $40,000 for the first time.
The Hyundai Inster EV (Source: Hyundai)
The IONIQ 6 is heavily discounted, with up to $34,142 off the driveway price on 2023 model year inventory. Hyundai has also reduced the prices of the IONIQ 5 by nearly $10,000. As the report points out, the savings are based on the driveway prices in NSW, which are available nationally.
2025 Hyundai IONIQ 5 (Source: Hyundai)
Although Hyundai’s price cuts in the US were in response to the $7,500 federal EV tax credit expiring, the discounts in Australia come as demand for electric cars is at an all-time high. In September, electric vehicles accounted for 11.3% of new car sales.
In the US, Hyundai is still offering a $7,500 cash incentive for 2025 IONIQ 5 models until at least the end of October.
2025 Hyundai IONIQ 5 Trim
Driving Range (miles)
2025 Starting Price
2026 Starting Price*
Price Reduction
Monthly lease cost (October 2025)
IONIQ 5 SE RWD Standard Range
245
$42,600
$35,000
($7,600)
$249
IONIQ 5 SE RWD
318
$46,650
$37,500
($9,150)
$259
IONIQ 5 SEL RWD
318
$49,600
$39,800
($9,800)
$299
IONIQ 5 Limited RWD
318
$54,300
$45,075
($9,225)
$369
IONIQ 5 SE Dual Motor AWD
290
$50,150
$41,000
($9,150)
$309
IONIQ 5 SEL Dual Motor AWD
290
$53,100
$43,300
($9,800)
$349
IONIQ 5 XRT Dual Motor AWD
259
$55,500
$46,275
($9,225)
$379
IONIQ 5 Limited Dual Motor AWD
269
$58,200
$48,975
($9,225)
$419
2025 vs 2026 Hyundai IONIQ 5 prices and range by trim
The 2025 Hyundai IONIQ 5 Standard Range starts at $42,600, while the 2026 model year is priced from just $35,000.
Although it was already one of the most affordable EVs on the market, the IONIQ 5 is hard to pass up with leases starting at just $249 per month in the US. For $10 more per month ($259), you can upgrade to the long-range SE RWD trim, which offers a range of up to 318 miles.