Nissan to invest $17.6 bn for new EVs and battery tech

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Auto maker Nissan said it will invest $17.6 billion (2 trillion Yen) in developing new EVs and battery technology over the next five years.

The Japan-based company, as per the Nissan Ambition 2030 plan, will launch 23 new electrified models, including 15 new EVs, aiming for 50 percent electrification mix, by fiscal year 2030.

“We will drive the new age of electrification, advance technologies to reduce carbon footprint and pursue new business opportunities. We want to transform Nissan to become a sustainable company that is truly needed by customers and society,” Nissan CEO Makoto Uchida said.

Over the next 10 years, Nissan aims to deliver exciting, electrified vehicles and technological innovations while expanding its operations globally.

The vision supports Nissan’s goal to be carbon neutral across the life cycle of its products by fiscal year 2050.

Nissan intends to increase its electrification sales mix across major markets by fiscal year 2026, including Europe by more than 75 percent of sales, Japan by more than 55 percent of sales, China by more than 40 percent of sales and the US by 40 percent of EV sales in fiscal year 2030.

“With our new ambition, we continue to take the lead in accelerating the natural shift to EVs by creating customer pull through an attractive proposition by driving excitement, enabling adoption and creating a cleaner world,” said Nissan COO Ashwani Gupta.

Nissan aims to launch EV with its proprietary all-solid-state batteries (ASSB) by fiscal year 2028 and ready a pilot plant in Yokohama as early as fiscal year 2024.

With the introduction of breakthrough ASSB, Nissan will be able to expand its EV offerings across segments and offer more dynamic performance.

By reducing charging time to one-third, ASSBs will make EVs more efficient and accessible. Nissan expects ASSB to bring the cost of battery packs down to $75 per kWh by fiscal year 2028 and aims to bring it further down to $65 per kWh to achieve cost parity between EV and gasoline vehicles in the future,” the company announced.

Nissan intends to increase its global battery production capacity to 52 GWh by fiscal year 2026, and 130 GWh by fiscal year 2030.

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