Nissan Announces 16 New Electric Cars

Jawad

27 Mar 2024

386

Nissan Announces 16 New Electric Cars

Nissan has unveiled an ambitious strategy aimed at revolutionizing its electric vehicle (EV) lineup, with plans to introduce 16 new EV models by 2026 while simultaneously reducing production costs by 30% by 2030.

Outlined in a recent business plan, the Japanese automaker is set to significantly increase the proportion of EVs in its global model mix. By 2026, Nissan targets having 40% of its models as EVs, with this figure expected to rise to 60% by 2030. This marks a substantial increase from its earlier goal of surpassing 55% EVs in its global model mix by 2030, as stated in its previous strategy update.

Moreover, Nissan has set ambitious sales targets, aiming for an additional 1 million unit sales compared to fiscal 2023 by the end of 2026. The company also aims to achieve an operating profit margin exceeding 6% by this timeframe. To facilitate these objectives, Nissan plans to invest over 400 billion yen ($2.65 billion) in battery capacity.

This announcement follows Nissan's recent exploration of an EV partnership with rival Honda Motor (HMC), signaling the growing importance of electric mobility within the automotive sector.

In the North American market, Nissan intends to introduce seven new vehicles in the United States and Canada. While specific details about the EV lineup are not yet available, the company has confirmed the introduction of "e-POWER and plug-in hybrid models," each utilizing a combination of electricity and traditional fuel for power. Presently, Nissan's all-electric offerings include the Ariya SUV and the iconic Leaf model.

Nissan's ambitious expansion in the EV sector comes at a time when several automakers are scaling back their EV efforts in the face of fierce competition from Chinese EV manufacturers such as BYD (BYDDY), Nio (NIO), and XPeng (XPEV), renowned for their competitively priced electric vehicles.

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