Nissan Motor Co introduced it’ll spend 2 trillion yen ($17.59 billion) over the following 5 years to speed up car electrification, betting tighter carbon emission restrictions will spur demand for electrical automobiles and hybrids.
Japan’s No. 3 automotive maker mentioned on Monday it’ll introduce 23 electrified automobiles by 2030, together with 15 electrical automobiles (EVs), and plans to introduce all solid-state batteries by March 2029.
Nissan, which was among the many first mass-market EV makers with its Leaf mannequin, is aiming to win market share with its deeper push into electrified automobiles and fend off rivals, together with newer entrants equivalent to Tesla Inc.
Its renewed dedication to battery-powered automobiles comes as shopper demand for such automobiles grows in key auto markets equivalent to China and the US.
Chief Government Makoto Uchida mentioned Nissan aimed to make EVs reasonably priced for extra drivers.
“We’ll advance our effort to democratise electrification,” he mentioned in an internet presentation.
Nissan shares fell as a lot as 4.9% in morning buying and selling in Tokyo, underperforming its main rivals.
Though nonetheless solely