Nissan Motor Co. will invest ¥2 trillion ($17.6 billion) over the next five years to electrify more of its lineup and turn battery-powered cars into a pillar of its long-term growth.
The company said Monday that it will introduce 23 new models by fiscal 2030, including 15 new electric vehicles, and aim for half of its fleet to be electrified by then.
Nissan, on track to return to annual profit for the first time in three years, is seeking to use know-how it amassed as an early entrant into the EV market as a foundation for growth. The Yokohama-based automaker was an early leader, releasing the world’s first mass-produced EV, the Leaf, in 2010. The Leaf is still one of the world’s top-selling EVs, though in recent years its annual sales have been outpaced by Tesla Inc.’s models.