Nissan Motor Co announced that it will spend 2 trillion. Yen ($ 17.59 billion) over a five-year period to accelerate vehicle electrification and “overtake” competitors in one of the fastest growing areas for car companies.
This is the first time that Japan’s third-largest automaker, one of the first mass-produced electric vehicles with the Leaf model a decade ago, has unveiled a comprehensive electric drive.
Nissan will spend twice as much as it invested in the last decade to gain a share of the electric vehicle market, as its competitors, such as Toyota Motor and Tesla, move forward with their plans for electric cars.
Nissan has said it will introduce 23 electric vehicles by 2030, including 15 electric vehicles, and wants to reduce its lithium battery cost by 65% ​​in eight years.
It also plans to introduce solid-state batteries by March 2029, which could be game changing.
These commitments, said CEO Makoto Uchida, will make electric vehicles accessible to more drivers.
“We will promote our effort to democratize e-mobility,” he said in the online presentation.
The company’s share is falling 5.6%. Some analysts even say that they were not impressed by Nissan’s plan, emphasizing that the company has already lagged behind its competitors in electric propulsion.
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Source From: Capital
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