Nissan Looks to Amp Up Its EV Game

In an effort to catch up in an industry dominated by automakers such as Tesla, Nissan has increased its sales targets for electrified vehicles and unveiled a number of forthcoming all-electric and e-Power hybrid vehicles that are already in development, as well as plans to enhance American powertrain manufacturing.

The Japanese automaker, which pioneered the EV market with its Leaf all-battery model, had struggled as have many other legacy automakers as a result of growing rivalry from more agile newcomers.

But now, Nissan has promised that it would introduce 27 brand new electric vehicles (EVs), 19 of those being fully electric vehicles in contrast to the 23 electric vehicles, which include 15 new electric vehicles that the company had originally anticipated when it unveiled its Nissan Ambition 2030 goal in 2021. In addition to the planned increase of electric vehicles, Nissan revised its projections for the composition of sales. The planned EV sales across the globe have been raised to 44% from the prior goal of 40% by the year 2026. The company intends to sell fewer traditional models as well. Nissan anticipates that about 44% of its worldwide sales will be electric vehicles by 2026.

Nissan and Infiniti’s sales of electric vehicles are expected to increase from their earlier goal of 50% to 55% by the year 2030, according to the company. Take note that by 2030, Nissan plans to sell only electric vehicles in the United States.

Nissan asserts that its new, revised approach is a response to customers’ shifting needs and the economic outlook. However, the reality is that the planned additional increase of electric vehicles was facilitated by Nissan’s renewed partnership with Renault, which resulted in a more equitable working relationship between the two companies and paved the way for new opportunities for sharing components as well as development costs.

Ashwani Gupta announced on Monday that Nissan also wants to construct electrical power systems at its Decherd facility along with the manufacture of electric vehicles at its Tennessee facility in Smyrna to help comply with IRA regulations. According to Gupta, Nissan is considering adding a second U.S.-made battery source to supplement the supply it currently receives from Envision AESC. The company is convinced that localizing the production of batteries beginning in 2026 will result in IRA compliance. While that compliance can be quite challenging, it presents a chance to increase the EV market competition.

With legacy automakers such as Nissan upping their game, startups such as Kandi Technologies Group Ltd. (NASDAQ: KNDI) might be well advised to pay attention if they wish to claim a sizeable share of the global electric vehicle market for years to come.

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