Nissan to expand EV lineup, develop better batteries, cut costs

TOKYO, Japan: This week, Nissan's Chief Executive Makoto Uchida said the company will expand its electric vehicle (EV) lineup, develop more powerful batteries, and cut production costs under its "The Arc" pathway to higher sales by 2030.

"The auto industry is now being forced to reshape its values, so we can say continuous change is the new normal Nissan must change. We cannot succeed if we continue along the same path," Uchida told reporters.

"Costs will come down for electric models, so they will be about the same as gasoline-engine models by fiscal 2030, while global sales will grow by a million vehicles during that period," he added.

In 2023, Nissan sold some 3.4 million vehicles globally, up by around 5 percent from 2022.

The company is planning 30 new models over the next three years, including 16 EVs, and it plans to launch 34 EV models from fiscal 2024 through fiscal 2030.

By fiscal 2026, EVs will account for 40 percent of Nissan's international offerings, and by the end of the decade, they will account for 60 percent.

Yokohama-based Nissan said that to cut costs, it will cooperate with suppliers from the development stage, upgrade production methods to incorporate robotics and artificial intelligence (AI), and have models share more components.

It will also leverage its global partnerships, including with rival Japanese maker Mitsubishi, including those with China's Dongfeng Nissan and French automaker Renault.

Earlier this month, Nissan announced a potential partnership with fellow Japanese carmaker Honda in electrification and AI.

Carmakers worldwide, including Nissan, have been hit shortages of computer chips and other parts due to disruptions related to the COVID-19 pandemic.

Nissan's offerings of new EVs, plug-ins, and hybrids will increase across all global markets, including the US, Europe, Japan, and other regions in Asia, Australia, and Africa, Uchida said in conclusion.