Nissan has announced its ambitious strategy to revolutionize its electric vehicle (EV) offerings, aiming to introduce 16 new EV models by 2026 while slashing production costs by 30% by 2030.
In a business plan revealed on Monday, the Japanese automaker outlined its vision to significantly increase the proportion of EVs in its global model mix. By 2026, Nissan aims to have 40% of its models as EVs, rising to 60% by 2030.
This represents a notable increase from its previous goal of exceeding 55% EVs in its global model mix by 2030, as stated in its strategy update last year.
Additionally, Nissan has set ambitious sales targets, aiming for an additional 1 million unit sales compared to fiscal 2023 by the end of 2026. The company also aims to achieve an operating profit margin of over 6% by this time frame. To support these goals, Nissan plans to invest over 400 billion yen ($2.65 billion) in battery capacity.
This announcement comes on the heels of Nissan’s recent exploration of an EV partnership with rival Honda Motor (HMC), highlighting the growing emphasis on electric mobility within the automotive industry.
For the North American market, Nissan has outlined plans to release seven new vehicles in the United States and Canada. While specific details regarding the EV lineup are not yet clear, the company has confirmed the introduction of “e-POWER and plug-in hybrid models,” each leveraging a blend of electricity and traditional fuel for power. Currently, Nissan’s all-electric offerings include the Ariya SUV and the iconic Leaf model.
Nissan’s ambitious expansion in the EV sector stands out in an industry where several automakers are scaling back their EV efforts amid fierce competition from Chinese EV manufacturers like BYD (BYDDY), Nio (NIO), and XPeng (XPEV), known for their competitively priced electric vehicles.
