Nissan delays plans to build new electric vehicle models as consumer demand wanes

With consumer interest in electric vehicles rising slower than automakers expected, Nissan is delaying a plan to build new EV models at its Canton, Mississippi, factory. 

The company had announced plans to build five new EV models in Canton, which would add to the Leaf and Ariya electric models the company currently offers, according to CNN. The models included luxury vehicles under the company’s Infinity brand. 

Nissan told the cable news outlet it has adjusting the timeline for the new models to ensure they “bring the vehicles to market at the right time, prioritizing in line with customer demand.” 

The company had previously announced plans to invest $500 million in the factory to roll out the new models. 

According to Kelly Blue Book, Americans bought 2.6% more than the first quarter of 2023. This pace, however, was far below the 46.4% sales growth seen in the first quarter of 2023 over the same quarter in 2022.