Nissan to reportedly close Barcelona auto plant

Japanese automaker Nissan Motor will close its factory in Barcelona, Spain. The move will result in the loss of about 2,800 jobs, Spanish newspaper El Pais reported, citing government and union sources.

The automaker is set to announce restructuring steps under a new three-year business plan on Thursday.

The government and automakers had enforced shutdowns of factories to control the spread of the coronavirus pandemic, which has significantly hit automakers globally.

A Spanish industry ministry official had said on Monday, that Nissan Motor would find it cheaper to invest in its Barcelona factory located in Barcelona than to close it. Pegging the estimated cost of a shutdown at over 1 billion euros ($1.1 billion).