Nissan Motor will look to slash the cost of its next-generation electric vehicles by 30% to reach cost parity between its EVs and conventional gasoline models by fiscal year 2030
, the Japanese car-manufacturing giant said on Monday in a new business plan. Nissan, which was an early adopter of EV technology and has been making the Nissan LEAF, a battery-electric powered compact car, since 2010, has been feeling intense competition from a crowded market in recent years, including from cheap models from China. In the new business plan, dubbed ‘The Arc’, Nissan pledges it would launch 30 new models by fiscal year 2026, of which 16 will be electrified.
“The product offensive will be supported by new development and manufacturing approaches aimed to make EVs more affordable and increase profitability,” said the car manufacturer, adding that the approaches would involve “developing EVs in families, integrating powertrains, utilizing next-generation modular manufacturing, group sourcing, and battery innovations.
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