Nissan to invest $17.6 billion over next five years to ramp up electric vehicle offering

An electric concept car from Nissan is displayed at the company's showroom in Yokohama, Japan, on November 29, 2021.KAZUHIRO NOGI | AFP | Getty Images

Japanese automotive giant Nissan is to invest 2 trillion yen (around $17.6 billion) over the next five years to speed up the electrification of its product line.

Nissan said on Monday it would aim to roll out 23 new electrified models by 2030, 15 of which will be fully electric.

It is targeting a 50% electrification mix for its Nissan and Infiniti brands by the end of the decade.

On the battery front, the firm is planning to introduce all-solid-state batteries, or ASSB, to the market by 2028. A pilot ASSB facility in the Japanese city of Yokohama will be readied “as early as fiscal year 2024”, Nissan said.

In a speech outlining the plans, Nissan CEO Makoto Uchida said his company was focusing on the in-house development of ASSB.

“With this, we'll be able to double the energy density versus current lithium-ion batteries,” he said. “With batteries made smaller and thinner, we can offer flexible layout with more dynamic performance, expanding to larger segments like pick up trucks.”

Nissan is one of several well-known companies pursuing an electrification strategy. In March, Volvo Cars said it planned to become a “fully electric car company” by the year 2030. Elsewhere, BMW Group has said it wants fully electric vehicles to represent at least 50% of its deliveries by 2030.

It comes at a time when major economies around the world are attempting to reduce the environmental footprint of transportation.

Read more about electric vehicles from CNBC Pro

The U.K., for example, wants to stop the sale of new diesel and gasoline cars and vans by 2030. It will require, from 2035, all new cars and vans to have zero tailpipe emissions.

Elsewhere, the European Commission, the EU's executive arm, is targeting a 100% reduction in CO2 emissions from cars and vans by 2035.

Earlier this month, signatories to a declaration at the COP26 climate change summit said they would “work towards all sales of new cars and vans being zero emission globally by 2040, and by no later than 2035 in leading markets.”

While the U.S., China and carmakers including Volkswagen, Toyota and Nissan were absent from the declaration, signatories did include the U.K., Indian and Canadian governments and automotive firms such as Ford, General Motors and Volvo Cars.

More from CNBC Climate:

Read more about how businesses and consumers are fighting and adapting to climate change:

Speaking to CNBC's Steve Sedgwick on Monday morning, Nissan's Uchida said his company needed to be “equipped and ready [for] how the market will evolve further in terms of … electrification.”

On charging, Uchida stressed the importance of collaboration. “We are focusing, not only [at] … Nissan but also in the Alliance [on] how we can further … contribute to establish the infrastructure in terms of the charging stations.”

Renault-Nissan-Mitsubishi is an automotive alliance that was established in 1999. Mitsubishi joined the strategic partnership in 2016.

News Related

OTHER NEWS

5 Ways to Save Energy This Winter

Much of the country is buried under winter snows with furnaces and fireplaces blasting out heat. While you may think that winter is a great time to fire up the ... Read more »

5 Tips for Preventing ELD Violations

URL: https://pixabay.com/illustrations/service-delivery-tracking-logistic-4540203/ The ELD mandate is a regulation requiring that all commercial motor vehicle operators qualifying for this law use electronic logging devices. These devices are meant to record vehicle ... Read more »

Quick Commerce : Delivery race among grocery startups heats up road safety issues

Image Source: ShutterStock Indian grocery startups are luring tech-savvy customers with the promise of deliveries within 10 minutes, sparking a boom in “quick commerce”, but heating up concerns about road ... Read more »

CAIT seeks meeting with CCI chairman; appeals to close probe against Amazon, Flipkart soon

(Representative image) The Confederation of All India Traders (CAIT) on January 23 sought a meeting with the Competition Commission of India’s Chairman Ashok Kumar Gupta regarding investigation and action against ... Read more »

Chinese state media calls for an end to ‘chaos' in esports industry amid Beijing's tough stance on video games

People’s Daily, the mouthpiece of China’s ruling Communist Party, has called for an end to “chaos” in the country’s esports industry, ahead of the 2022 Asian Games later this year ... Read more »

Govt relaxes deadline for re-export of containers used for oxygen transport

Representative image. The customs department has given time till September 30 for the re-export high-quality containers which have been imported for efficient transportation of liquid medical oxygen during the second ... Read more »

445 Indian infrastructure projects show cost overrun of Rs 4.4 trillion

Representative Image As many as 445 infrastructure projects, each entailing investment of Rs 150 crore or more, have been hit by cost overruns totalling more than Rs 4.4 lakh crore, ... Read more »

Bitcoin's crushing week and collapse in Ether, memecoins challenge optimism in digital assets

The risk-off attitude and selling pressure across the global crypto market showed no sign of abating over the weekend, with losses in Bitcoin and Ether adding to a brutal week. ... Read more »

Mobikwik expects to double revenue this fiscal, stays cautious on IPO launch

IPO-bound fintech firm Mobikwik. Representative image. IPO-bound fintech firm Mobikwik is expecting to close the current financial year with 100 per cent revenue growth, a top company official said. Mobikwik ... Read more »

Lamborghini bullish on India ranking higher in its top 10 markets in APAC region

Italian super luxury carmaker Automobili Lamborghini is bullish on India to rank higher in its top 10 markets in the Asia Pacific region going forward, buoyed by strong consistent performance ... Read more »

India's economy has 'some bright spots, a number of very dark stains': Raghuram Rajan

Raghuram Rajan The Indian economy has “some bright spots and a number of very dark stains” and the government should target its spending “carefully” so that there are no huge ... Read more »

Celebrity Homes | At artists Jayasri Burman and Paresh Maity's house, songs of parrots and a special place for Durga

A giant mirror dominates the living room. Next to it, is an old oil-on-canvas by Jayasri Burman and her Ganesh Janani sculpture; (right) Paresh Maity’s painting ‘Benaras’ also hangs in ... Read more »

Devas shareholders to continue seizing Indian assets abroad

Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect USD 1.2 billion ... Read more »

Big Tech beware: Asian creators are rewriting the future with Web 3.0

The creator economy, estimated to be worth more than US$100 billion worldwide, is thriving. More than 50 million people globally consider themselves creators, and much success has been attained on ... Read more »

Asian private equity firm PAG weighs US$2 billion Hong Kong IPO plan

Asia-focused private equity firm PAG is considering an initial public offering (IPO) in Hong Kong, according to people with knowledge of the matter, in what would be one of the ... Read more »

Moneycontrol PRO & Espresso present Nifty Banker 2.0 on Sunday, 23rd January, at 8 pm, with Vivek Gadodia on “Blue Mountain Strategy for Index Trading”

Nifty Banker 2.0 is India’s First Retail Index Traders Online Conference to be organised in India. Some of the best index traders in India will share their deep trading knowledge ... Read more »

10 key factors that traders should keep an eye out for in truncated week

The market lost over three percent and snapped a four-week winning streak in the week ended January 21 amid weak global cues and continued selling by foreign institutional investors (FIIs). In ... Read more »

Cryptocurrency Prices Today: Bitcoin falls over 1%, Solana tumbles 14%

Representative image The global cryptocurrency market capitalisation dropped to $1.6 trillion from $1.7 trillion during the last 24 hours while the trading volume rose from $126 billion to $130 billion. ... Read more »

Petrol, Diesel Prices Today on January 23: Check rates in Delhi, Mumbai and other cities

In Kolkata, petrol and diesel prices remained at Rs 104.67 per litre and Rs 89.79 per litre, respectively. (Representative image) Petrol and diesel prices remained unchanged for the 79th day ... Read more »

Hong Kong stockbrokers' bonuses shrink after 2021 market rout, while staff at banks including HSBC and Bank of East Asia reap the rewards

Thousands of Hong Kong stockbrokers are bracing themselves for slimmed down or nonexistent bonuses to kick-start the Year of the Tiger, after a months-long market rout that savaged their firms’ ... Read more »

Daily Voice | Budget 2022: These 3 announcements may surprise markets, says Mohit Nigam of Hem Securities

Mohit Nigam is the Head – PMS at Hem Securities Mohit Nigam, Head – PMS at Hem Securities, says the current decline in the market from the top ought to ... Read more »

UK's oldest cinema reopens after 'biggest existential crisis' ever faced by the industry

"Everyone's really excited with the phone ringing off the hook with everyone saying 'when are you open? When can I come back?' I think people are looking forward to it," says the manager of The Electric cinema - which dates back to 1909. Read more »

France: Business owners share relief as British skiers allowed to return to French slopes after travel restrictions eased

UK holidaymakers were banned from travelling to France for a holiday for almost a month after COVID travel restrictions were brought in to stop the spread of Omicron. Read more »

Big rise in complaints to banking watchdog over new 'KFC, Uber, pregnancy' loan rules

The Banking Ombudsman Scheme says it has seen complaints about lending delays double since the borrowing rules came into effect. The Credit Contracts and Consumer Finance Act (CCCFA) requires banks ... Read more »

Hospitality hit by chronic staff shortages - 'Worst we've seen'

Queenstown hospitality operators, already battered by the dropoff in tourist numbers, are being further beaten up by chronic staff shortages. As a result, restaurants are cutting trading hours, copping complaints ... Read more »

Ships with liquefied gas change course: imports doubled

Liquefied gas has therefore become an alternative for Europe for gas from our own soil or via the pipelines. For years, that subterfuge was not really necessary. “The Gate terminal ... Read more »

COVID-19 update | Maharashtra records 46,393 cases, 48 deaths

Representative image Maharashtra on Saturday recorded 46,393 new coronavirus cases including 416 Omicron infections and 48 pandemic-related deaths, the health department said. The daily new cases came down by more ... Read more »

High fertilizer prices could mean smaller crops for farmers

COLUMBUS, Miss. — Farmers across Mississippi are having to adjust to a steep rise in the price of fertilizer. The Mississippi State Extension Service recently released a study about how ... Read more »

Why you might be leasing not buying your next couch

shironosov | iStock | Getty Images Before eventually moving to California, the grandson of one of interior designer Phyllis Harbinger's wealthy clients who had just graduated from college opted to ... Read more »

Behind GM, Ford's aggressive new electric vehicle strategy is old-time financing: Cash

The cab to a Ford all-electric F-150 Lightning truck prototype is seen on an automated guided vehicle (AGV) at the Rouge Electric Vehicle Center in Dearborn, Michigan, September 16, 2021.Rebecca ... Read more »

Exclusive: SEBI pulls up PTC India Financial, says no board meeting till corporate governance issue addressed

Securities and Exchange Board of India has pulled up PTC India Financial Services (PFS), asking the company not to hold a board meeting until the corporate governance issues are addressed ... Read more »

Cuba relaxes COVID requirements for Russian tourists arriving in groups

Cuba’s embassy in Moscow told that the entry regulations had been relaxed for Russian travelers due to an improving epidemiological situation in the country Read more »

Sibir nuclear-powered icebreaker arrives at homeport of Murmansk from Baltic Shipyard

In Murmansk, the Sibir will start operating along the Northern Sea Route Read more »

Bitcoin pyramid schemes wreak havoc on Brazil's 'New Egypt'

CABO FRIO, Brazil — In April, Brazil’s federal police stormed the helipad of a boutique seaside hotel in Rio de Janeiro state, where they busted two men and a woman ... Read more »

End of tech party hits wealth Jeff Bezos hard: $25 billion up in smoke

The rapidly deteriorating mood is particularly noticeable on the Nasdaq, where many tech giants are listed. From its peak in November last year, the technology stock market has already fallen ... Read more »

Ministop joins French fry war in Japan with larger Bucket Potato as McDonald's reel from potato shortage

Ministop’s Bucket |Potato Ministop has joined the French fries war in Japan by offering its Bucket Potato, which has three times the amount of their X Fried Potatoes for 641 ... Read more »

German government: natural gas is an interim solution in the energy transition

Photo: ANP The use of natural gas is necessary as an interim solution for the energy transition. The German government wrote this in a letter to the European Commission. Berlin ... Read more »

8 Features of The Best Forex Trading Platforms

Retail trading is a robust industry. Around the world, millions of people buy and sell currencies online, and the term “Forex” is now associated with broad portfolios comprising currencies, stocks, ... Read more »

Shell looks at sustainable projects in France with €4 billion in its pocket

According to Van Beurden, Shell is looking at possible investments in French offshore wind farms, charging stations for electric cars and the production of hydrogen and biofuel for aircraft. France ... Read more »

The 21-year-old College Cuber makes $8,000 mosaics of sports stars using cubes

Dylan Sadiq, known as “The College Cuber” charges $8,000 for his mosaics made of cubes. Pro teams including the NBA's Detroit Pistons have purchased the artwork.Courtesy: Dylan Sadiq | The ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic