TOKYO – Nissan Motor Co., battered from booking its first annual net loss in 11 years, aims to reboot its flagging fortunes with a retuned midterm plan that cuts billions in costs, slashes production capacity and trims the lineup to reemerge as a smaller, more profitable company.
Under the plan, called Nissan Next, Japan’s No. 2 automaker wants to cut 300 billion yen ($2.78 billion) in fixed costs and reduce global production capacity from 7.2 million to 5.4 million vehicles. Nissan will close plants in Indonesia and Spain, and realign its U.S. production footprint.
