Nissan plans to invest about $17.6 million in the next five years to grow its electrification of cars, joining nearly every other automotive original equipment manufacturer in making a major transition to sell primarily electric vehicles (EVs).
According to CNBC, Nissan aims to roll out about 23 new EVs by 2030, 15 of which will be fully electric and plans for 50% of its Nissan and Inifiniti brands to be electric by the end of the decade.
Since the beginning of 2021, the automotive market has embarked on what could be its largest transition in its history, moving away from gas- and diesel-powered vehicles to selling primarily electrified models.
American automotive giants Ford and General Motors both committed to moving to electric models in January and are spending billions to improve technology and roll out new models.
General Motors said it will phase out gas and diesel vehicles by 2035 and only produce EVs moving forward. Ford followed suit saying it would invest $22 billion in electrification through 2025 and would make EVs its primary models beginning in 2035. Other auto makers followed including Volvo, Volkswagen, Jaguar, Honda, Toyota and more.
The move to electrification is due to a few motivating factors. Consumer adoption has never been greater, and Tesla Motors showed if the car is built right, demand is there. Additionally, regional and company-specific environmental goals are pushing these companies to become carbon neutral in order to curb climate change.
Mercedes-Benz announced it will only produce electric-only architectures by 2025 and Volvo has a cut off data to produce all internal combustion engine vehicles by 2030, making it a fully EV company by this date.
BMW Group said it wants fully EVs to represent at least 50% of its deliveries by 2030.
Regions are making their own impacts as well with the U.K. stating it will stop the sale of new diesel and gas cars and vans by 203 and will require all new cars and vans to have zero tailpipe emissions by 2035. The EU also has a target of 100% reduction in carbon dioxide emissions from cars and vans by 2035.
