TOKYO Nov 26 (Nikkei): Nissan Motor aims to have electric and hybrid models account for half of its global automobile sales by 2030, Nikkei has learned.<\/p>\n\n\n\n
The Japanese automaker sees electric vehicles reaching 50% of its sales in China electric and 80% in Europe by the end of the decade.<\/p>\n\n\n\n
The move comes as global rivals such as Germany\u2019s Volkswagen rush to invest in EV development..<\/p>\n\n\n\n
Although Nissan was one of the pioneers in EVs, its sales of the vehicles are modest compared with companies such as Tesla.<\/p>\n\n\n\n
Nissan aims to accelerate its sales of the environmentally friendly vehicles by expanding investment.<\/p>\n\n\n\n
EVs and hybrid cars accounted for around 10% of global car sales last year, standing at 2% in China and 10% in Europe.<\/p>\n\n\n\n
Nissan aims to raise those figures in both regions as they introduce tighter environmental restrictions.<\/p>\n\n\n\n
China is the largest market for Nissan, which sold 1.45 million vehicles in the country in fiscal 2020.<\/p>\n\n\n\n
During the same period, Nissan sold 390,000 vehicles in Europe.<\/p>\n\n\n\n
Those markets combined made up half of Nissan\u2019s global car sales.<\/p>\n\n\n\n
The automaker\u2019s plans are to be included in the company\u2019s long-term vision that will be unveiled on Monday.<\/p>\n\n\n\n
Nissan\u2019s sole European plant, located in the UK, will be converted into a production base that specialises in EVs and hybrid cars.<\/p>\n\n\n\n
It will also spend more to accelerate production of electrified vehicles.<\/p>\n\n\n\n
It is estimated that Nissan has invested a total of \u00a53 trillion in the 10 years until fiscal 2020, the automaker aims to increase this over the next 10 years by more than 30%.<\/p>\n\n\n\n
The spending will be used to ramp up battery production and develop new models.<\/p>\n\n\n\n
Nissan plans to roll out an additional 10 EV models by fiscal 2026, adding to the current five EV models including the Leaf.<\/p>\n\n\n\n
To lower the price of electric vehicles to the same level as gasoline cars, Nissan will work with its partners Renault and Mitsubishi Motors to procure batteries, which account for 30% to 40% of the total production cost for an EV.<\/p>\n\n\n\n
In January, Nissan announced that it would make all new models in the major markets electric by the early 2030s.<\/p>\n\n\n\n
Nissan believes that conventional gasoline-powered cars will still account for a high proportion of new car sales in Japan and the US in 2030.<\/p>\n\n\n\n
Carmakers are rushing to invest more in EV development amid the global push for decarbonisation.<\/p>\n\n\n\n
Toyota Motor will invest \u00a51.5 trillion in batteries and aims to sell 2 million units of electric cars and fuel cell vehicles globally in 2030.<\/p>\n\n\n\n
Volkswagen will invest \u20ac35 billion by 2025 to make 50% of the global new car sales electric in 2030.<\/p>\n\n\n\n
Germany\u2019s Daimler, US-based General Motors, and Honda Motor are planning to quit selling combustion engine cars including hybrid vehicles.<\/p>\n\n\n\n
Nissan is behind its rival EV makers such as Tesla.<\/p>\n\n\n\n
In 2020, Nissan\u2019s electric cars accounted for 4% of the global EV sales.<\/p>\n\n\n\n
Chinese carmakers are accelerating the rollout of low-priced electric cars and building presence in China and Europe.<\/p>\n\n\n\n
According to US consulting firm Alix Partners, electrified cars accounted for 11% of the global new car sales in 2020.<\/p>\n\n\n\n
The ratio is expected to increase to 61% in 2030.<\/p>\n\n\n\n
It is estimated that electrified cars will account for 90% of new car sales in Europe and 70% in China and Japan.<\/p>\n\n\n\n
– Nikkei<\/p>\n\n\n\n
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