The Japanese Automaker Company, Nissan Motor Co. decides to invest about 2 Trillion Yen (about $17.6 Billion) on battery-powered Electric Cars into its pillar for the company’s long-term growth.
The Nissan Motor Co’s CEO Makoto Uchida discusses Nissan’s plan to invest 2 Trillion Yen in electrification over the next five years. The company will introduce 23 New Models by the Fiscal year 2030, including 15 new Electric Vehicles aiming for half of its sales to be electrified by then.
2 Trillion Yen is quite huge but we’ve already invested 1 trillion up until today,” Chief Executive Officer Makoto Uchida said in an interview with Bloomberg Television. He declined to specify how the company would fund the investment. “I’m confident we can make this future investment while growing the company itself.”
A pilot plant for solid-state batteries will be up and running by fiscal 2024, which will be aiming to start mass production by around 2028. The next-generation batteries are a clue to the solution of cost uniformity between EVs and gas cars, according to Nissan.
Nissan aims to electrify more than 75% of sales in Europe,55% of sales in Japan, and 40% of sales in China by fiscal 2026. It plans to have 40% of sales in the U.S, electric in fiscal 2030. The long-term strategy also involves 20 Billion Yen of spending on increasing the number of charging spots for EV’s.
But Can this all really be possible, when there is the competition like Tesla in the market, in recent years the Tesla Inc annual sales has outpaced everyone’s expectations and also the world’s second-biggest automaker Volkswagen AG, is investing aggressively in a bid to unseat Tesla as the top EV maker?