Nissan will invest nearly 2 trillion yen (£ 13.2 billion) in vehicle electrification over the next five years, including playing a key role for its Sunderland plant in battling rival traditional automakers and specialists like Tesla.
The Japanese automaker, which launched one of the world’s first mass-market electric vehicles (EVs) with its Leaf model a decade ago, announced that it would bring 23 “electrified” vehicle models to market by 2030, 15 of them fully electric. The rest would be hybrids.
“The role of companies to meet societal needs is getting stronger,” said Nissan CEO Makoto Uchida. “We will drive the new age of electrification, drive technology to reduce our carbon footprint and pursue new business opportunities.”
Ashwani Gupta, Nissan’s chief operating officer, said Sunderland will play a central role in the company’s plans: “Europe will lead Nissan worldwide in electrification. In Europe, Sunderland is the one who will take the lead on electrification. “
The company has set EV sales targets of more than 75% in Europe, 55% in Japan and 40% in China by 2026. In the US, it should be 40% by 2030.
Part of the plan included the previously announced $ 1 billion investment.
Nissan, which will spend twice as much on the electric vehicle market as it has in the past decade, said the move was part of the goal of becoming carbon neutral by 2050.
“We want to make Nissan a sustainable company that customers and society really need,” said Uchida.
The company said that by 2030, half of all models it makes will be powered by some form of electrification.
At the Cop26 climate summit held in Glasgow earlier this month, automakers like Ford and General Motors pledged to phase out fossil-fuel vehicles by 2040.
“With our new ambition, we continue to take the lead in accelerating the natural shift to electric vehicles through an attractive proposition by building excitement, enabling adoption and creating a cleaner world,” said Gupta.
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Nissan said it plans to hire 3,000 people worldwide for advanced research and development while “training its current workforce.”
The company also aims to reduce lithium-ion battery costs by 65% within eight years. An all-solid-state battery-powered car is also expected to hit the market by 2028. ASSBs offer more range and performance at a lower cost.
“We will continue our efforts to democratize electrification,” said Uchida. Nissan’s shares were down more than 5% on Monday.
