Nissan Motor Co. is canceling plans to make a pair of fully electric SUVs at a factory in the US, citing waning demand among American consumers for all-electric vehicles.
The decision, which was relayed Thursday to dealers and parts suppliers in the US, comes as part of a broader recalibration of its product strategy
as the Japanese carmaker seeks to conserve cash. Nissan had previously frozen plans to s
tart manufacturing EVs at the plant in Canton, Mississippi, where it expects to build a V6 engine-powered hybrid version of its Xterra SUV.
“Canton does have a future that will include diverse powertrains, but it will not include EVs,” sai
d Ashli Bobo, a spokesperson for the company’s US operations.
As recently as early last year, the Yokohama-based automaker said it was on track to launch a battery electric model in Canton in 2028. That came after it pare
d back plans to produce four all-new EVs by then at the plant. The shift reflects sluggish US sales for EVs afte
r the Trump administration killed tax credits for those vehicles.
Nissan’s move to scrap plans for the two all-electric SUVs was first reported by Japan’s Nikkei.
Insurtech Lemonade reported a first quarter 2026 net loss of about $35.8 million compared with a loss of about $62.4 million during the same time in 2025.
However, Lemonade said its topline growth was positive, with 159% increase in year-to-yea
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r gross profit to about $100 million, and 32% growth of in-force premium (IFP) to about $1.3
billion. Revenue jumped 71% compared with Q1 2025 to $258 million.
In a letter to shareholders, Lemonade said it reached about $1 million of IFP per employee and has reduced its team size 6% since the last quarter of 2022.
“We believe we are already roughly at parity with incumbents such as progressive, Allstate
, GEICO, and Travelers, while being a fraction of the size,” Lemonade said.
Pet insurance, the insurtech’s largest line of business, reached the $500 million IFP plateau e
arly in Q2 2026 with a growth rate of 55% in 2025. In additional, IFP for the car insurance product grew 60% year-over-year.
“Car new business is growing rapidly across both direct-to-consumer and cross-sale channels
, each increasing [more than] 100%,” Lemonade said, adding that it is “encouraged” by the perform
ance of its autonomous car product, which it expects to expand to additional states this year.
