Nissan intends on investing $18 billion to build its EV business over next 5 years

The Japanese carmaker is making a bid to push forward and catch up to the competition

Nissan is serious in its bid to for electrification. So much so, that they’ve made the decision of pouring 2 trillion yen, or 18 billion dollars into the EV market over the next 5 years. Plans are ambitious, with the intention of launching 23 electrified models by 2030, 15 of which will be EV’s! They also aim at reducing the costs of lithium-ion batteries by 65%, and introduce all solid-state batteries by 2029.

This is ambitious to say the least, though Nissan doesn’t intend on abandoning combustion cars anytime soon- they intend on having a mixture of EVs, hybrids and combustion cars. Nissan’s share price dropped by 5.6% though after the news, so it doesn’t seem like others are seeing exactly the same visions that the Nissan higher-ups do!

The Leaf, one of Nissan’s best-selling vehicles, and is an EV.

This is the first time that Nissan has unveiled such a comprehensive plan for electrification, though some might argue that they’re too late to the party. Considering that little ground has been tread by Nissan in comparison to current industry leaders like Toyota and Tesla, Nissan’s ambitious push might not actually end up delivering the results they wish to see. The IEA (International Energy Agency) said that the registrations for EV’s went up by 41% in 2020, so the demand for EVs will most certainly not die down anytime soon!

All that we should do is wait it out, as certainly it’s not a decision which was made overnight and there was most certainly thought put into it. Where big money is spent, big decisions are made! It’s a bold call by Nissan, so let’s see how it plays out for them.

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Sahil D.

Love sleeping, video games and aviation, but F1 is life! I'm addicted to F1 and it's happenings, and I really love open-wheel motorsport! Feel free to check out any of my articles- I try my best to write without an element of bias, so you as the reader can form your own opinion! :)

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