Nissan Unveils $18 Billion Dollar Electrification Plan

Nissan announced its $18B plan to accelerate vehicle electrification in order to catch up with competitors in the EV segment. According to Nissan insiders, the funds will be used over a span of five years in multiple areas of development to ensure the successful long-term manufacturing of electric vehicles and batteries. Nissan is spending considerably more than it did in past years and this is most likely to get a share of the EV market as other car manufacturers are doing the same. This also includes competing with Tesla which is currently the industry leader in this segment which explains Nissan’s large investment.    

More Electric Vehicles

The company is also planning to launch 23 electrified vehicles by 2030 (including 15 fully electric vehicles) with the intention of reducing lithium-ion battery costs by 65% within a span of eight years. According to Chief Executive Makoto Uchida, with the development of all-solid-state batteries operational by 2029, EVs would become more affordable to consumers. 

Nissan’s Long-Term Vision

Chief Operating Officer of Nissan, Ashwani Gupta, says that it’s important for Nissan to show where it’s going next and that includes a clear plan and vision for the future. Ultimately, in the highly competitive market that the EV segment is going to become, taking a good share percentage of the pie is going to be the challenge. Even though there is only a small portion of electric vehicles on the road today, those numbers are going to increase in the next couple of years.  

Making a Gradual Transition

At this year’s (2021) United Nations Climate Conference, automakers like GM (General Motors) and Ford signed a declaration that indicates they are going to phase out fossil fuel-powered vehicles by 2040. However, Nissan has not committed to abandoning gasoline vehicles, at least not yet. What we do know is that Nissan’s vehicle mix will be about 50 percent electrified by 2030 (which will include EVs and E-Power Hybrids). In addition, with its Chinese partner, Envision AESC, a battery manufacturer for electric vehicles, Nissan is planning to build a battery factory in Britain that is projected to power 100,000 vehicles a year. 

Buying a New Nissan Vehicle

If you are interested in driving home a brand new Nissan vehicle, contact us today at Southern Team Nissan and will assist you throughout your shopping experience. We work with every budget so our customers can be confident that they can get a great deal without breaking the bank. We encourage you to visit us and take a look at our on-site inventory of family SUVs, sedans, and trucks at unbeatable local prices. If you are looking for a specific vehicle, trim level, or exterior color, you can fill out our contact form and we will provide you with more information.

Image Source: Nissan