Nissan to invest $17 bil. in electrified vehicles

Nov 29, 2021 | News On Japan

Nov 29, 2021 (NHK) - Japan's Nissan Motor plans to invest more than 17 billion dollars in the development of electrified vehicles and batteries over the next five years.

Nissan announced its long-term vision on Monday.

The carmaker plans to boost the proportion of electrified models, including hybrids, to over 75 percent of its new car sales in Europe by fiscal 2026. The target for Japan is more than 55 percent, and at least 40 percent in China.

Nissan says it will also aim for more than 40 percent of its new car sales in the US market coming from fully electric models alone by fiscal 2030.

The auto giant is also working on next-generation battery technology. The company aims to launch an EV by fiscal 2028 with an all-solid-state battery that allows for more storage of electricity.

Nissan President and CEO Uchida Makoto says the firm will center its development efforts on its expertise in electrification and automation, so it ''can offer value that only Nissan can.''

Japanese automakers have performed strongly in the hybrid-vehicle segment, but they are now accelerating their shift to EV models.

Source: ANNnewsCH

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