Nissan to Invest Over $17 Billion in Electric Vehicle Development

Japanese automobile company Nissan will be investing 2 trillion Yen (about $17.6 billion) while developing new electric vehicles as well as battery technology. This investment will take place over the space of five years, and is part of a huge plan referred to as “Ambition 2030.”

The company plans to release a total of 15 electric vehicles by 2030, having electrified vehicles make up half of the company’s entire automobile lineup. The automobile company has stated that it will be producing 23 electrified vehicles over the next eight years, with 20 of those 23 coming in the next five years.

The company has its sights set on a market mix of 75 percent electrified vehicles in Europe, 55 percent in Japan and 40 percent in China and the United States by 2030.

The other part of that market mix would supposedly be Internal Combustion Engine (ICE) vehicles. It should be emphasized that Nissan had stated earlier in 2021 that the company planned to electrify every new vehicle that is launched in the early 2030s. In the plan, any Internal Combustion Engine vehicles available by the time would be classified as legacy models.

By 2028, Nissan will release electrified vehicles with all-solid-state batteries (ASSB) and will have had a pilot plant established in Yokohama by 2024. That particular technology boasts of advancements such as reduced periods of charging, but has not hit the market as it has been expected to.

It is also in the company’s plans to reduce the cost of battery packs to $75 per kWh (kilowatt-hour) by 2028, while also planning to reduce the cost to $68 per kWh further down the road. According to Bloomberg, that would be about half of what batteries for electrified vehicles cost as at last year. The company also hopes to be producing batteries of 130 gWh (gigawatt hours).

Nissan has also revealed four concept cars: Chill-Out, Surf-Out, Hang-Out and Max-Out. These four concepts are to give a glimpse of Nissan’s future tech with self-driving features.