Nissan, which introduced the electric Leaf a decade ago but now has just a small share of the EV market, is looking to power up its efforts.
Driving the news: The company said Monday that it's investing $17.6 billion into electrification efforts over the next five years.
The Japanese company plans to have 23 electrified models on the market by 2030, including 15 fully electric vehicles.
It is aiming to have electrified vehicles account for 50% of worldwide sales in 2030.
Nissan also plans to greatly increase battery production capacity and bring a proprietary solid-state battery to market late in this decade.
Why it matters: It's the latest sign of major automakers devoting increasing resources into EVs as sales climb quickly, albeit from a small base.
"This is the first time Japan's No.3 automaker...is unveiling a comprehensive electrification plan," Reuters reports.
Yes, but: The Reuters piece also notes that "some analysts were unimpressed with Nissan's plan, noting it was already behind its rivals in electrification."
