New Delhi: Nissan Motor is aiming to invest over $17.6 billion over the next five years towards launching more electric vehicles (EV) and will shift its focus to that particular segment.
Nissan announced on Monday that it may launch over 23 new models by 2030, including more than 15 new electric vehicles. Nissan has set a target of making electric vehicles half of its fleet by then.
Nissan is aiming to utilise its advantage as an early entrant into the electric vehicles segment. The Japanese company had come up with the world’s first mass-produced EV in 2010.
Nissan has ramped up its activities in the EV segment in recent times and has announced a series of investments, including plans to build a $1.4 billion hub to manufacture electric vehicles in the U.K.
Global EV sales have been predicted to rise tenfold over the next decade to above 10 million a year from the current 1 million.
Volkswagen AG is investing heavily in its bid topple Tesla as the top global EV maker. Several major auto makers such as General Motors and Honda have been selling only EVs in two decades.
Nissan aims to use its tie-up with Renault and Mitsubishi in order to decrease the cost of EV parts such as batteries.
This new strategy by the Japan-based automobile manufacturer has been named Nissan Ambition 2030.