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.
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