Nissan Raises Global EV Targets; to Increase U.S. Localization

Reuters

13:34 JST, February 27, 2023

TOKYO (Reuters) — Nissan Motor Co. on Monday raised its electrified car sales goals and said it will increase power train production in the United States, as it looks to catch up in a segment dominated by newer automakers such as Tesla Inc.

The Japanese automaker was a pioneer in electric vehicles (EVs) with its all-battery-powered Leaf but has struggled alongside many legacy automakers in the face of increasing competition from nimbler new entrants.

Nissan now aims to have electrified vehicles – which include its advanced hybrid e-power cars – make up over 55% of global sales by fiscal 2030, from a previous goal of 50%, it said.

The automaker plans 27 new electrified vehicles by that year, 19 of which will be all-battery EVs, it said in a statement. That compared with its previous plan of 23 electrified vehicles including 15 all-battery EVs.

In addition to EV production at its Smyrna, Tennessee plant, Nissan plans to build electric power trains at its Decherd plant in the same state to help it meet requirements for the Inflation Reduction Act, Chief Operating Officer Ashwani Gupta also said on Monday.

Nissan is confident it will be in compliance with the Act due to the localisation starting calendar year 2026, Gupta said in an online briefing.