The struggling carmaker is urgently cutting costs as it looks to turn things around. Nissan is offering buyouts to US workers at its Canton, Mississippi, plant, citing it as a “crucial” part of its comeback plan.
Nissan offers buyouts for US workers at its Canton plant
Nissan has been in the spotlight over the past few weeks for all the wrong reasons. It began earlier this month, following the company’s announcement that it was abandoning plans to build a new EV battery plant in Japan.
The facility was set to produce lower-cost LFP batteries, which have been key to BYD and other Chinese EV brands’ rapid rise in the global auto industry. With an annual production capacity of up to 5 GWh, the plant was expected to slash EV battery costs by 20% to 30%.
Facing slumping sales, lower profits, and more competition, Nissan launched its new recovery plan, dubbed “Re:Nissan,” earlier this month.
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The comeback strategy involves cutting 20,000 jobs, or around 15% of its global workforce, by 2027. Nissan is also closing several plants to slash costs by 250 billion yen as it aims to return to profitability by fiscal year 2026.
According to an internal email, viewed by Reuters, Nissan is offering buyouts for US workers at its Canton plant. The email also stated that merit-based pay increases are suspended globally.
Christian Meunier, Nissan America’s chairman, said the buyouts are “crucial for Nissan’s comeback” in the US, its most important market.
Nissan’s new LEAF EV (Source: Nissan)
“While substantial efforts have been made in the US to help right-size Nissan, we need to take additional, limited, strategic action here at a local level,” Meunier said in an email.
Nissan announced a voluntary separation program for a select number of US salaried employees. Since the plan is still ongoing, Nissan didn’t provide any further details.
Nissan’s upcoming lineup for the US, including the new LEAF EV and “Adventure Focused” SUV (Source: Nissan)
On Wednesday, a separate report from Bloomberg News claimed that Nissan is looking to raise over 1 trillion yen ($6.9 billion) with the help of the UK government to repay a massive loan due next year.
Nissan invested $500 million to upgrade its Canton plant for electric vehicle (EV) production in the US. Although it initially planned to begin building EVs in the US this year, Nissan delayed production until at least 2028.
Nissan next-gen LEAF testing in the US (Source: KindelAuto)
Later this year, Nissan will launch the upgraded LEAF, now with a longer driving range, an NACS charging port, and a more SUV-like design. It will be one of ten new Nissan or Infiniti models to launch by 2027.
Electrek’s Take
As Electrekreported yesterday, Nissan’s comeback plan hinges on its upgraded e-Power technology. The only issue is that the system is designed for hybrids.
Nissan is following in Toyota and Honda’s footsteps by advancing new hybrid and plug-in hybrid tech, but the company is already two steps behind.
Doubling down on hybrids and PHEVs while delaying more EV projects will likely only set Nissan up for failure over the next few years.
The Japanese automaker is already losing market share in some of its biggest markets, like China and Southeast Asia.
Can Nissan turn things around in the US, its most important market? Or, will it continue to fall out of favor with lower-cost, more advanced EVs on the way from brands like Rivian and Lucid? Let us know your thoughts in the comments.
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Fortescue is marching towards zero emissions as it invests in new, zero-emission mining equipment options across its global operations. And that investment? It’s already paying off. One analyst says the company’s saving almost $400 million in fuel costs alone. Each year.
From massive, Liebherr-built electric haul trucks and excavators to more than $400 million in Chinese equipment from XCMG, Fortescue is putting its money where its mouth is and making real efforts to decarbonize its global mining operations.
“We’re moving rapidly to decarbonize our Pilbara iron ore operations and eliminate our Scope 1 and 2 terrestrial emissions by 2030. To achieve this target, we will need to swap out hundreds of pieces of diesel mining equipment at the end of their life with zero emissions alternatives,” said Fortescue Metals Chief Executive Officer, Dino Otranto, when the XCMG order was announced. “As the global mining industry continues to evolve, we’re proud to be at the forefront of driving innovation in value adding green technology and showing the world that industry can decarbonize.”
Those efforts aren’t just cutting back on air pollution. Electric equipment assets are helping to keep the company’s workers safe and healthy, too. What’s more, they’re saving the company money – they’re already seeing $300-400 million in fuel savings annually.
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Liebherr T264 electric haul truck
Liebherr T264; via Fortescue.
The Liebherr T264 electric haul trucks now working for Fortescue defy common sense notions of size, scale, and power. Each truck tips the scales at 176 tonnes (194 tons) and can haul more than 240 tonnes (265 tons) of payload thanks to powerful electric motors and a big-as-a-house-sized 3.2 MWh battery that can be recharged in a little over 30 minutes by Liebherr’s proprietary 6 MW DC fast charger.
If you could keep the car from exploding, that 6 MW (that’s 6,000 kW to you and me) charger could zap a Tesla Model Y Long Range’s 75 kWh battery in some thirty (30) seconds.
Meanwhile, big electric haul trucks like this 240 ton unit from Caterpillar can, in certain use cases with high amounts of regenerative braking, operate without any significant cost to recharge. At that point, the reduced maintenance and downtime of BEVs compared to diesel vehicles becomes icing on the TCO cake.
We spoke to Fortescue Zero executives a few months ago on a special interview episode of Quick Charge. Check it out (above) then let us know what you think of Fortescue’s fuel savings in the comments.
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This world’s first fully electric deconstruction site is being hailed as a landmark in sustainable urban development — and it’s powered by Siemens technology and Volvo Group’s battery-electric trucks and heavy equipment.
The deconstruction project (that’s kind of like a really careful demolition) marks the first full-scale electric deconstruction of its kind, and serves as important proof that with the right partners and the will to do it, urban construction projects like this can be carried out sustainably, today – and all without fossil fuels. It’s all part of Siemens’ €500 million technology campus redevelopment, the deconstruction site in Erlangen, Germany, and marks a pivotal step in advancing sustainable urban transformation and circular construction practices.
In collaboration with the demolition specialists at Metzner Recycling, Volvo CE deployed a fully electric fleet of equipment assets specially chosen to deliver quiet, precision demolition across the 25,000 cubic meter job site.
As well as deconstruction tasks, the electric machines helped sort and process approximately 12,800 tons of construction waste, with 96% recycled into raw materials for future use – supporting the shift towards circular materials management.
VOLVO CE
“At Siemens Real Estate, we are committed to pushing the boundaries of sustainable construction and demolition,” explains Christian Franz, Head of Sustainability at Siemens Real Estate. “This groundbreaking electric deconstruction project boasts an impressive 96% recycling rate and is a testament to our commitment to achieving excellence in sustainability … this project illustrates how partnerships and determination can create a lasting impact and help shape a more sustainable real estate industry.”
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In addition the construction equipment was hauled into the site by Volvo Truck’s battery electric semi trucks, enabling emission-free operations from demolition, to crushing, materials processing, and transport.
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Hyundai offered a first look at the hot hatch earlier this week after unveiling the Concept Three, its first compact EV under the IONIQ family. The new EV, set to arrive as the IONIQ 3, already has a sporty, hot hatch look, but that could be just the start.
Hyundai has a new EV hot hatch in the making
The Concept Three took the spotlight at IAA Mobility in Munich with a daring new look from Hyundai. Based on its new “Art of Steel” design, the concept is a stark contrast to the Hyundai vehicles on the road today.
Hyundai took the “Aero Hatch” design to the next level, deeming it “a new typology that reimagines the compact EV silhouette.” And that it does.
When it arrives in production form in mid-2026, it’s expected to take the IONIQ 3 name as a smaller, more affordable sibling to the IONIQ 5.
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Hyundai is set to unveil the electric hatchback next spring with an official launch planned in Europe in September 2026. According to Hyundai’s European boss, Xavier Martinet, the IONIQ 3 could make for the perfect EV hot hatch.
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
Martinet hinted that the IONIQ 3 could receive the “N” treatment, telling Auto Express that “The concept is quite sporty, and obviously you have heritage with N brand.” Hyundai’s European boss added that “it’s a fair topic to consider.”
Although it doesn’t sound too convincing, Hyundai’s head of design, Simon Loasby, called it “an opportunity.” Loasby was quick to add, “We’re not calling it N, it’s not approved yet.”
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
“But I think everyone in the company is realising what Europe needs, and that’s compact hot hatches, so it’s a topic for discussion,” Hyundai’s design boss added.
The Concept Three is 4,287 mm long, 1,940 mm wide, and 1,428 mm tall, with a wheelbase of 2,722 mm, or about the size of the Kia EV3 and Volkswagen ID.3. Both of which are set for hot hatch variants.
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
If the IONIQ 3 N does come to life, it will be the third Hyundai EV to receive the high-performance upgrade, following the IONIQ 5 N and IONIQ 6 N.
The IONIQ 5 N “was just the first lap,” according to Joon Park, vice president of Hyundai’s N Brand Management Group. He told Auto Express that Hyundai is “at the starting line” and plans to apply what it learned from its first EV hot hatch to upcoming models.
If you’re looking for an affordable electric hot hatch, Hyundai already offers one. After Hyundai cut lease prices last month, the IONIQ 5 N is now listed at just $549 per month. That’s $150 less per month than in July.