Nissan scraps plans for US$1.1bn Japanese battery plant

Embattled Japanese automaker Nissan has announced that it will scrap plans for a JP¥153bn (US$1.1bn)  lithium-iron-phosphate (LFP) battery plant in Kitakyushu, Japan, as part of a broader restructuring strategy to address its worsening financial crisis. The project, first announced in January—well into the crisis—was expected to produce cost-effective LFP batteries for electric vehicles (EVs) and create 500 jobs.