Nissan, a major automaker, has withdrawn plans to build two fully electric SUVs at its Canton, Mississippi factory, as part of a broader strategy to conserve cash. The move comes as automakers are slowly walking away from ambitious electric vehicle (EV) plans. The company had previously frozen its EV production plans at the Canton facility, but is now canceling them outright. This reverses a $500 million investment Nissan announced in 2022, which had been hailed as one of the largest EV manufacturing commitments in the South. The post-incentive U.S. EV market has been particularly poor, with Americans buying just 212,600 new battery-electric vehicles in the first quarter of 2026, a 28% decline from 296,304 units a year earlier. The federal $7,500 EV tax credit expired on September 30, and the impact of the New EV Bill Act has been immediate and has been exacerbated by rising gas prices and increased demand.