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Nissan to invest $17.6 bn to accelerate electrification

Workers are seen on the production line at Nissan's car plant in Sunderland, Britain. — Reuters
Workers are seen on the production line at Nissan's car plant in Sunderland, Britain. — Reuters

YOKOHAMA: Japan's Nissan plans to invest 2 trillion yen or about $17.6 billion over the next five years to accelerate the electrification of its vehicle lineup and rate of technology innovation.

The company unveiled Nissan Ambition 2030 on Monday, the company's new long-term vision for empowering mobility and beyond.

The vision supports the company's goal to be carbon neutral across the life cycle of its products by fiscal year 2050, Nissan said in a statement.

The company plans to hire more than 3,000 employees in advanced research and development globally while continuing to upskill its current workforce.

The company will also build on collaboration across the Alliance with Renault and Mitsubishi to enable cost-savings and shared expertise in areas such as carbon-neutral technologies, electrification, software and services.

Nissan said it will introduce 23 new electrified models, including 15new electric vehicles or EVs by fiscal year 2030 aiming for an electrification mix of more than 50 per cent globally across the Nissan and Infiniti brands.

With the introduction of 20 new EV and e-POWER equipped models in the next five years, Nissan intends to increase its electrification sales mix across major markets by fiscal year 2026, including Europe by more than 75 per cent of sales, the United States by 40 per cent of EV sales in fiscal year 2030.

The company said it will continue to evolve its lithium-ion batter ytechnologies and introduce cobalt-free technology to bring down the cost by 65 per cent by fiscal year 2028.

The company aims to launch EV with its proprietary all-solid-state batteries (ASSB) by fiscal year 2028 and ready a pilot plant in Yokohama as early as fiscal year 2024.

Nissan intends to increase its global battery production capacity to52 GWh by fiscal year 2026, and 130 GWh by fiscal year 2030.

The company aims to expand ProPILOT technology to over 2.5 million Nissan and Iinfiniti vehicles by fiscal year 2026.

The company will also further develop its autonomous vehicle technologies, aiming to incorporate next generation LIDAR systems on virtually every new model by fiscal year 2030.

The company intends to expand its battery refurbishing facilities beyond Japan with new locations in Europe during fiscal year 2022,and in the U.S. in fiscal year 2025.

Nissan's refurbishing infrastructure will support a circular economy in energy management, and the company aims to fully commercialize its vehicle-to-everything and home battery systems in the mid-2020s.

In addition, the company will invest up to 20 billion yen by 2026towards charging infrastructure. — dpa

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