TOKYO: Nissan Motor will end vehicle production at its Wuhan plant in China during the current business year which ends March 31, 2026, the Yomiuri newspaper reported citing sources it did not identify.

The decision comes after the operation rate at the 300,000 vehicle capacity plant, which produces the Ariya electric vehicle and X-Trail SUV, fell below 10% of capacity amid stiff competition from Chinese automakers, the Yomiuri said.

Nissan declined to comment on the report about the plant, which it has leased from Dongfeng Motor since 2022.

The Japanese carmaker on Thursday forecast a record net loss of 700 billion yen to 750 billion yen ($4.87 billion-$5.22 billion) for the financial year that ended in March due to impairment charges.

Reuters