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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

Go deeper

Electric cars could become charging stations too

Ford's F-150 Lightning pickup can top off the battery in a Mustang Mach-E. Photo: Ford

Electric vehicles will soon have "bidirectional" or two-way batteries that can turn cars into useful sources of power for your home, worksite or even another car.

Why it matters: One of the biggest obstacles to EV adoption is the lack of charging infrastructure.

  • But if you think of your car as a source of energy — not just a consumer of it — that whole calculus begins to change, says Reilly Brennan, a transportation investor at Trucks Venture Capital.

Why 401(k) rollovers are so annoying

Illustration: Aïda Amer/Axios

If you happened to change jobs recently, you may have tried to transfer your retirement account from your former employer into an Individual Retirement Account or your new employer's 401(k) plan. If so, you probably encountered a bureaucratic gantlet — and you're not alone.

Why it matters: Kludgey processes around retirement account transfers result in people losing track of their funds, giving up important tax advantages, or otherwise disadvantaging themselves and being less prepared for retirement.

The hard math behind America's labor shortage

Data: Bureau of Labor Statistics, Congressional Budget Office; Chart: Axios Visuals

Yes, the pandemic has created unusual temporary labor market dynamics. But in the bigger picture, the 2010s were a golden age for companies seeking cheap labor. The 2020s are not.

The big picture: In the 2010s, the massive millennial generation was entering the workforce, the massive baby bo0m generation was still hard at work, and there was a multi-year hangover from the deep recession caused by the global financial crisis.