Nissan Motor Co. Ltd. is exploring options for its two European plants, including a possible sale, amid an industry shift to electric vehicles and declining sales in the region, Bloomberg News reported Oct. 24, citing sources familiar with the matter.
The Japanese automaker is reportedly trying to court potential buyers in the U.K. and Spain. Sources told the news wire that facilities could also be sold to Chinese carmakers as no final decisions have been made.
The company is reportedly looking into focusing solely on the production of electric cars in Europe and import combustion cars from Japan instead to comply with European emissions rules.
A Nissan spokesperson said the company has no plans to sell its European plants at this time, Bloomberg reported.
In February, Nissan abandoned plans to build the new X-Trail sport utility vehicle in Sunderland in the U.K. over Brexit concerns. It announced over a month after that it will withdraw its Infiniti luxury brand in Western Europe in early 2020.
Nissan's market share in Europe dipped 2.5% in September due to decreasing sales, according to Bloomberg.
Renault SA declined to comment on Nissan's plans, the report added.