Japan's Nissan promises aggressive electrification push to cut costs, boost global sales

Nissan Chief Executive Makoto Uchida speaks during a press conference in Atsugi, near Tokyo, Monday, March 25, 2024. Nissan will expand its electric vehicle lineup, develop more powerful batteries, cut production costs, while speeding up the whole process, in what the Japanese automaker’s chief called “The Arc” pathway to greater sales by 2030.

The company is planning 30 new models over the next three years, 16 of them EVs. Nissan plans to launch 34 EV models from fiscal 2024 through fiscal 2030, so that EVs will account for 40% of its global offerings by fiscal 2026, and 60% by the end of the decade.

Such tie-ups between rivals are relatively unusual but are needed to keep up with surging demand for more sustainable transport as concerns grow over carbon emissions and sustainability, analysts say.

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Nissan targets 1 million extra vehicle sales in next 3 years, aims to cut EV costsNissan is targeting an additional 1 million unit sales in the next three years and a 30% reduction in electric vehicle production costs by 2030.
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