Nov 29, 2021 - Economy

Nissan makes its move on electric vehicles

Nissan Ariya electric crossover. Photo courtesy of Nissan.

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 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."

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