Nissan is preparing to close one of its longest-running factories , marking a painful step for the automaker as it tries to climb out of the challenges plaguing it over the past several years. While the plant was on Nissan’s targeted closure list,

Nissan says it is closing its flagship factory in Oppama, Japan, to cut costs and moving all its production there to another plant in southwestern Japan.

Struggling auto giant Nissan said Tuesday it will stop production at its plant at Oppama in Japan at the end of its 2027 fiscal year. Nissan posted a net loss of 671 billion yen (about $6,55 billion) last year and it has said it will cut 15 percent of its