Asia Tech Wire (May 23) -- Japanese automaker Nissan has delayed the development of electric vehicles in the U.S., according to the Japanese news agency Jiji.

Citing people familiar with the matter, the report said Nissan Motor Co. has delayed the development of two electric sedan models it will produce in the U.S. due to slowing demand for electric vehicles in North America.

Nissan had said in 2022 that it would spend $500 million to develop two electric sedan models and begin assembling them in 2025 at its plant in Canton, Mississippi.