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 start 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,” said 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 pared back plans to produce four all-new EVs by then at the plant. The shift reflects sluggish US sales for EVs after 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-year 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 early 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 performance of its autonomous car product, which it expects to expand to additional states this year.