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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.

Thousands without power as "hazardous" winter storm lashes East Coast

Winter view from Charlotte as winter storm Izzy creates dangerous conditions in Charlotte, N.C. on Jan. 16. Photo: Peter Zay/Anadolu Agency via Getty Images

A major winter storm was lashing much of the East Coast on Sunday, causing widespread power outages and disrupting travel over the holiday weekend.

The big picture: Heavy snow and ice accumulations were "likely to produce hazardous travel," downed trees and more outages from the Mid-South to the Northeast, per the National Weather Service. Some parts of the U.S. can expect to see up to a foot of snow through Monday.

Updated 6 hours ago - Science

Volcanic eruption in Tonga caused "significant" damage

This satellite image of the eruption on Jan. 15 taken by Himawari-8, a Japanese weather satellite operated by Japan Meteorological Agency and released by National Institute of Information and Communications Technology (NICT). Photo: NICT via AP

Significant damage has been reported in Tonga following an undersea volcanic eruption on Saturday, which covered the Pacific nation in ash and cut off communication lines.

Driving the news: The eruption triggered tsunami warnings across Tonga's islands and in other regions, including the West Coast of the U.S. and New Zealand, which were later lifted.