Nissan is investing in the development of electric vehicles and batteries

Key takeaways:

• Nissan stated on Monday that it will invest 2 trillion yen in building a more inexpensive and powerful battery over the next five years.
• By fiscal 2030, according to Makoto Uchida, the company’s CEO, 15 new electric vehicles would be available. 
• According to Uchida, the costs of electric vehicles will fall to levels comparable to ordinary gasoline cars due to battery improvement.

Nissan announced on Monday that it will invest 2 trillion yen (US$17.6 billion) over the next five years in developing a more affordable and powerful battery to expand its electric vehicle fleet.

By fiscal 2030, according to Makoto Uchida, the company’s CEO, 15 new electric vehicles would be available. As per Uchida, Nissan Motor Co. is looking for a 50% “electrification” of its model lineup as part of its “Nissan Ambition 2030” long-term plan. Electrified automobiles include hybrids and other environmentally friendly models in addition to electric vehicles.

According to Uchida, the work is primarily focused on electric vehicles to reduce emissions and suit the needs of varied clients. Nissan will also reduce carbon emissions at its factories, according to him.

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The firm has been battling to move forward from the crisis surrounding its former Chairman Carlos Ghosn. After being transferred to Japan by French alliance partner Renault, Ghosn, who led Nissan for two decades, was arrested in Tokyo in 2018 on multiple financial misconduct accusations.

Uchida made no mention of the controversy, instead referring to “previous mistakes” at Nissan that he assured would not be repeated.

Nissan’s “electrification” is based on developing a new ASSB, or all-solid-state battery, that the company calls “a breakthrough” because it is cheaper and produces more power than current batteries.

Because the batteries can be smaller, electric powertrains can be more easily utilized in trucks, vans, and other heavy vehicles. According to Nissan, the ASSB will be in mass production by 2028.

According to Uchida, the costs of electric vehicles will fall to levels comparable to ordinary gasoline cars due to battery improvement.

He stated, “Nissan has emerged from a crisis and is ready to make a fresh start.”

All major automakers, including Nissan’s Japanese rival Toyota Motor Corp., are working on electric vehicles to raise concerns about climate change and sustainability. Customers around the world are likewise demanding more safety features.

According to Uchida, Nissan is hiring 3,000 engineers to improve its research, which includes digital technologies for vehicles.

Nissan, based in Yokohama, Japan, has recently been hit by a computer chip shortage that has impacted all automakers due to chip factory lockdowns and other steps to battle the coronavirus epidemic.

After two years of losses, the creator of the Infiniti luxury vehicles, the Leaf electric vehicle, and the Z sportscar is forecasting a return to profitability for the fiscal year ending March 2022.

Source: CTV News

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