Nissan was a troubled company even before the coronavirus pandemic put half of the planet on hold so the Japanese giant’s problems are now even worse.

Earlier this year, the automaker’s CEO, Makoto Uchida, was urged by Nissan shareholders and U.S. dealers to speed up the company’s revival. Later this month, he is due to reveal a recovery plan which is expected to include massive cost cuts.

According to an exclusive report from Reuters, the Japanese company plans to massively reduce its presence in Europe and elsewhere to focus on three major markets: the United States, China and Japan. The news agency’s sources are “people with direct knowledge of the plan.”

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The restructuring plan is said to be led mainly by Chief Operating Officer Ashwani Gupta

The unnamed insiders said the “operational performance plan,” set to be announced on May 28, represents a new strategic direction for the carmaker. It goes beyond fixing problems stemming from the aggressive expansive drive pursued under ousted leader Carlos Ghosn. That strategy led to steep discounts and a cheapened brand, especially in the United States.

The sources said the new, three-year plan aims to restore dealer ties and refresh lineups so that Nissan becomes profitable again by regaining pricing power. The plan aims to free resources to invest in products and technology for the core markets of the United States, China and Japan.

Plans for the U.S. market include lowering the average age of Nissan’s lineup from over 5 years to 3.5 years, as well as the launch of new and significantly redesigned cars, including the next-gen Rogue SUV. Nissan will also cut sales to rental and other fleet operators.

Nissan’s only surviving models in Europe will likely be the Juke and Qashqai crossovers

Mind you, focusing on the U.S., China and Japan does not mean Nissan will fully retreat from other markets. In Europe, for example, Nissan will try to maintain a presence by ramping up efforts with the Qashqai and Juke crossovers.

In Asia, the carmaker plans to further increase sales in Thailand and the Philippines. Together with Australia, these two markets generate roughly 90 percent of sales and profit in the region (excluding China, Japan and India). As for other markets, the plan calls for tighter, targeted lineups in India, Indonesia, Malaysia, South Africa, Russia, Brazil and Mexico. For example, Nissan will focus on the Patrol SUV in Africa and the Middle East.

As a result of these major changes, Nissan will likely need to shut down more than the 14 assembly lines announced in July. This will reduce the carmaker’s global production capacity from over 7 million vehicles based on three daily shifts per plant to 5.5 million based on two shifts per plant. The restructuring plan also calls for less overlap and more cooperation with Alliance partners Renault and Mitsubishi.

Nissan CEO Makoto Uchida