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."
Go deeper: Pity the "green" car buyer