Car investment

Nissan unveils $17.6bn push into electrification

Nissan Leaf

Nissan Leaf: introduced a decade ago

Nissan is launching 15 electric vehicles (EVs) by 2030 as part of an $17.6 billion investment that will include potentially game-changing all solid-state batteries.

The company, which introduced one of the world’s first mass-market electric vehicles with its Leaf model more than a decade ago, said it wants to reduce lithium-ion battery costs by 65% within eight years.

Chief Executive Makoto Uchida said its aim is to make EVs affordable to more drivers.

“We will advance our effort to democratise electrification,” he said in an online presentation.

Although still only a small portion of vehicles on the road, global electric car registrations in 2020 grew 41% even as the overall car market contracted by almost a sixth, according to the International Energy Agency (IEA).

At the COP26 climate summit in Glasgow this month, major car makers, including General Motors and Ford signed a declaration to phase out fossil fuel vehicles by 2040.

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