Why Nissan (NSANY) Stock Is Lower Today

NEW YORK (TheStreet) -- Shares of Nissan (NSANY) rare slightly lower at $19.58 after it was reported that CEO Carlos Ghosn is preparing to cut battery manufacturing, sources told Reuters, in a new reversal on electric cars that has re-opened deep divisions with alliance partner Renault.

The plan, which faces stiff resistance within the Japanese carmaker, would see U.S. and British production phased out and a reduced output of next-generation batteries concentrated at its domestic plant, sources told Reuters.

In what may also prove a politically sensitive blow to Japan Inc., Nissan would follow Renault by taking cheaper batteries from South Korea's LG Chem for some future vehicles, including models made in China. Reuters said.

  NSANY Chart NSANY data by YCharts

EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he and Stephanie Link think could be potentially HUGE winners. Click here to see the holdings for FREE

If you liked this article you might like

Why Nissan (NSANY) Stock Is Surging Today

Why Nissan (NSANY) Stock Is Surging Today