Japanese Automaker Nissan Lays Out $17.5 Billion Plan for Its Electric Future

Japanese automobile giant Nissan has said it will spend more than $17.5 billion (roughly Rs. 13 lakh crore) over the next five years to speed up the roll-out of its electric vehicles, joining a large number of companies that are moving to a more sustainable energy source. Though impressive, the promise falls short of the commitment other auto manufactures have made. Volvo and General Motors promised at the Glasgow climate summit that they will phase out their fossil fuel-based vehicles and turn into EV-only companies by 2030 and 2040, respectively. However, Nissan has offered to raise its EV portfolio by 23 new electric-powered models by 2030.

Of these, 15 will be fully EV and the rest would be hybrids. To ensure it is seen as a serious contender in the EV sphere, Nissan has also unveiled some new EV concepts, including a small pick-up truck called Surf-Out, an SUV called Chill-Out, and a convertible sports car called Max-Out. It is aiming to electrify half of its Nissan and Infinity brands by 2030.

The company rolled out Nissan Ambition 2030, its new long-term vision for empowering mobility and beyond, recently. On batteries, Nissan said that it was working on an “all-solid-state batteries (ASSB)”, and hoped that it would be ready by 2028. It is believed that solid-state batteries charge faster, have more power, and last longer than lithium-ion batteries, reported The Verge.

In a company press release, Nissan CEO Makoto Uchida was quoted as saying, “With Nissan Ambition 2030, we will drive the new age of electrification, advance technologies to reduce carbon footprint, and pursue new business opportunities.”

While Nissan's claim on solid-state batteries is bold and aggressive, these batteries have eluded researchers for a long time. Some claim a breakthrough is just around the corner, but until it is tested, nothing is certain. Manufacturers hope the solid-state batteries will bring down the price of EVs.

Nissan launched one of the world's first mass-market EVs with its Leaf model a decade ago. It said its new commitment to significantly reduce its fossil fuels-based vehicles is an effort to achieve the aim of becoming carbon neutral by 2050. The move has come at a time when major economies around the world are attempting to reduce the environmental footprint of transportation.