Business

$18 Billion to be invested by Nissan in electric vehicle push

Nissan will invest 2 trillion yen ($17.6 billion) over the next five years developing new electric vehicles and battery technology as part of a grand plan it calls “Ambition 2030,” The Company announced that it aims to release 15 new EVs total by 2030, with electrified vehicles making up half its vehicle lineup at that point.

The automaker said it will develop 23 electrified vehicles in total over the next eight years, with 20 of those coming in the next five years alone. It’s shooting for a market mix of 75 percent electrified in Europe, 55 percent in Japan and 40 percent in the US and China by 2030.

Nissan said that it planned to electrify every all-new car it launches by the early 2030s. The company said it plans to expand its Pro-Pilot driver assistance technology to over 2.5 million Nissan and Infiniti vehicles by 2026.

Nissan’s new plan comes as the company has grappled with internal problems, including the arrest and subsequent flight of former CEO Carlos Ghosn.

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