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Latest Leaf set for US launch in the autumn

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Revival hopes complicated by US tariffs and cooling EV

demand

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CEO needs to cut costs while still investing in new

vehicles

By Maki Shiraki and Kentaro Okasaka

TOKYO, June 17 (Reuters) - Nissan ( NSANF ) is betting on

a new version of its Leaf electric vehicle (EV) to revive its

fortunes, having gone from mass-market EV pioneer to laggard

since its first model entered showrooms in 2010.

The Japanese carmaker's third-generation Leaf was launched

on Tuesday and will go on sale in the United States in the

autumn, with other regions to follow. But its success is far

from certain in the face of significant obstacles.

The cars sold in the U.S. will be made at Nissan's ( NSANF ) factory

in Tochigi, Japan, and therefore subject to tariffs. EV demand

in the U.S., meanwhile, has cooled as customers clamour for

hybrids, which Nissan ( NSANF ) still does not offer in America.

"There is a high possibility that this is going on sale at

the worst possible time, given the imposition of tariffs and the

Trump administration's rollback of EV subsidies," said Koji Endo

at SBI Securities.

"If the new Leaf doesn't sell, it will mean big trouble for

Nissan ( NSANF )."

The price of the new Leaf has yet to be announced, but the

previous hatchback styling has been overhauled as a crossover

with battery capacity up to 25% more than the previous version.

Nissan ( NSANF ) estimates a maximum range of up to 303 miles in the U.S.

with its 75 kWh battery.

Even with the tariffs, the U.S. price will be competitive, a

Nissan ( NSANF ) spokesperson said.

It is difficult to understate the Leaf's symbolic importance

to Nissan ( NSANF ).

It was the world's best-selling EV for years until it was

overtaken by Tesla. Introduced by the now-disgraced

Carlos Ghosn, it heralded Nissan's ( NSANF ) desire to play a big role in

the electric future. Despite the company's troubles in recent

years, it has sold almost 700,000 Leaf vehicles.

Chief Executive Ivan Espinosa now faces the difficult task

of delivering much-needed cost cuts while continuing to invest

in development of new vehicles to refresh its ageing line-up and

lack of hybrids in the United States.

Espinosa has laid out plans for big cuts, including seven

plant closures and 11,000 jobs. That will bring staff cuts to

about 20,000, including those announced by his predecessor last

year.

Nissan ( NSANF ) reported a net loss of about $4.5 billion in the past

financial year and faces 596 billion yen ($4.1 billion) in debt

due next year.

The new Leaf will also be made at the Sunderland factory in

Britain. The Tochigi and Sunderland plants are not expected to

be among the closures, though the Oppama factory where the Leaf

was first made could be axed.