Nissan Plans 50% Electric Vehicle Sales By 2030

Automaker Nissan wants half its global sales to be electric or hybrid vehicles by 2030 and plans to plough billions of dollars into the effort, it announced Monday. The move follows in the footsteps of other major global automakers, which have increasingly signaled a move towards electric and hybrid vehicles as concern about climate change grows.

Unveiling its new long-term plan, Nissan said it will launch 23 new models, including 15 new electric vehicles, in a bid to reach the 2030 goal.

Last year, only around 10 percent of Nissan’s global sales were EVs or hybrids, and the firm said the new target would help it achieve carbon neutrality across the lifecycle of its products by 2050.

Nissan has been battered by a series of problems in recent years, ranging from weak demand even before the pandemic, to the fallout from the arrest and subsequent escape of former boss Carlos Ghosn.

Last year, only around 10 percent of Nissan’s global sales were EVs or hybrids

After falling behind rivals during the pandemic, it has begun clawing back performance, tripling its full-year net profit forecast earlier this month despite the impact of a global chip shortage.

In a statement, Nissan CEO Makoto Uchida said the long-term plan announced Monday would “transform Nissan to become a sustainable company.”

It’s a move seen across the auto industry with Sweden’s Volvo pledging to switch all sales away from traditional fuel cars by 2030, and Japan’s Honda setting the same target by 2040.