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Nissan Will Invest $17.6 Billion USD in Electric Vehicles Over the Next Five Years

Nissan Will Invest $17.6 Billion USD in Electric Vehicles Over the Next Five Years

Nissan on Monday announced that it will invest ¥2 trillion JPY (approximately $17.6 billion USD) in the development of new EVs and battery technology over the next five years.

The investments will fund a larger plan the company is calling “Ambition 2030,” which aims to release 23 new electrified models, including 15 new EVs, with electrified vehicles composing half of its vehicle catalog by 2030.

Nissan confirmed that 20 of the vehicles will launch in the next five years alone, as the automaker aims to establish a market mix of 75% electrified in Europe, 55% in Japan and 40% in the US and China by 2030.

The company said that it will launch EV models with all-solid-state batteries, which promise advanced capabilities including reduced charging times, by 2028 and ready a “pilot plant” in Yokohama as early as the fiscal year 2024. Additionally, Nissan aims to expand its ProPilot driver assistance technology to more than 2.5 million Nissan and Infiniti vehicles by 2026 and include next-generation LIDAR systems “on virtually every new model by fiscal year 2030.”

As part of Ambition 2030, the company is also looking to decrease the cost of battery packs to $75 USD per kWh by 2028 before reducing the cost to $65 USD per kWh at a later point in time.

Take a look at Nissan’s EV plans in the video above.

Elsewhere, Dwayne Johnson has given away his personal customized Ford F-150 Raptor to a superfan.

Read more at HYPEBEAST

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