Nissan To Invest $17.6 Billion Over 5 Years In Electrification of Fleet, Plans EV For India

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The company said it will introduce 23 electrified vehicles by 2030, including 15 electric vehicles (EV)

Japanese automaker Nissan Motor Co Ltd has announced that it will be investing 2 trillion yen (USD 17.6 billion) over the next five years to accelerate the electrification of its vehicle lineup and rate of technology innovation, adding that it aims half its global sales to be electric or hybrid vehicles by 2030.

“The role of companies to address societal needs is increasingly heightened. With Nissan Ambition 2030, we will drive the new age of electrification, advance technologies to reduce carbon footprint and pursue new business opportunities. We want to transform Nissan to become a sustainable company that is truly needed by customers and society,” chief executive officer Makoto Uchida said.

The company said it will introduce 23 electrified vehicles that use a range of technologies that use electricity for propulsion by 2030, including 15 electric vehicles (EV).

It also said it planned to introduce all solid-state batteries by March 2029.

Representing the next stage of Nissan’s electrified future, the company also unveiled three new concept cars that offer enhanced experiences through sophisticated technology packaging.

According to the company, by 2030 all the vehicles it sells in Europe will be electric or hybrid models, with a goal of 70 percent in North America and 100 percent in China by 2035.

Nissan said 20 of its new electric models would hit the market in the next five years, setting a target for electric cars to make up for 75 percent of sales in Europe by fiscal 2026.

Nissan also seeks to establish a global battery supply system to meet the growing customer vehicle demand and support the growing number of EVs in use. Working with its partners, Nissan intends to increase its global battery production capacity to 52 GWh by fiscal year 2026, and 130 GWh by fiscal year 2030.

“We are proud of our long track record of innovation, and of our role in delivering the EV revolution. With our new ambition, we continue to take the lead in accelerating the natural shift to EVs by creating customer pull through an attractive proposition by driving excitement, enabling adoption and creating a cleaner world,” Nissan COO Ashwani Gupta, said.

EV in India

The company is also looking to launch an electric vehicle in India. Uchida said while the company does see the need for vehicle electrification in India, the pace of launch will depend on the evolution of the local market, in terms of customer acceptance as well as infrastructure development.

“We do think that there will be a need coming in India for electrification, and we are going to prepare ourselves for that at the right time, with the right product. That is something we are working on in our company with our partner. There will be something for sure in India,” Uchida said, adding that the company will share specifics of the product and the timeline for the launch as the preparations mature.

Extensive studies are on to “materialise” electrification in India, said Uchida. The company is working on understanding the market, the product line-up and the customer acceptability in the country, he said.

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