Let them eat xEVs: Nissan to launch 16 xEVs despite market lull

Chiang, Jen-Chieh, Taipei; Peng Chen, DIGITIMES Asia 0

Credit: Nissan

Nissan Motor announced that it will roll out 30 new vehicle models by the fiscal year 2026, including 16 electrified vehicles containing battery EVs (BEV) and hybrid EVs (HEV). The carmaker aims to raise annual sales by one million units from FY 2023 to FY 2026.

According to Nikkei and Nissan's website, Nissan CEO Makoto Uchida said the pace of BEV adoption is unclear. The company therefore has to accommodate customer needs with flexibility, he added.

Demand for BEVs has weakened. Although Nissan perceives BEVs as a promising market for the long term.

HEVs are gaining more traction, the company said. In response to this trend, the automaker plans to launch 16 xEVs including BEVs, HEVs, and 14 gasoline cars by March 2027.

By FY 2026, electrified vehicle models will account for 40% of all models, less than four percentage points compared to the plan for fiscal 2023. BEV models will take up 20%, 11% higher than in FY 2023.

Nissan remains committed to its JPY2 trillion (US$13.2 billion) EV investment by fiscal 2026. This includes JPY400 billion for battery development.

The BEV market is expected to recover in the long term. Nissan had planned to electrify 55% of its new cars by fiscal 2030.

The company has adjusted the EV target to 60% and will introduce 34 electrified vehicles to the market by fiscal 2030. This is seven more cars than it announced earlier.

Nissan will reduce R&D expenses on BEVs with shorter R&D time and fewer components. The company plans to cut the cost by JPY150 billion on five BEVs that will enter production in fiscal 2027.

Nissan also aims to trim 30% of BEV drive system costs. The automaker plans to reduce BEV costs to a similar level to gasoline cars by 2030.