Finance

Nissan announces £13.2bn investment in electric vehicle production


Nissan has announced plans to spend more than £13 billion on developing electric vehicles.

At a news conference in Japan the car manufacturer, which has a major plant in Sunderland, revealed it will develop 23 new electric models by 2030.

By that time, the firm aims for half of its global output to be made up of electric vehicles.

Nissan said it will spend two trillion yen, around £13.2 billion, on electric vehicles over the next five years.

Chief executive Makoto Uchida said: “The role of companies to address societal needs is increasingly heightened.

“With Nissan Ambition 2030, we will drive the new age of electrification, advance technologies to reduce carbon footprint and pursue new business opportunities.

“We want to transform Nissan to become a sustainable company that is truly needed by customers and society.”

Nissan has plans to bring in all-solid-state batteries by 2028, which will be one-third quicker to charge.

Earlier this year it announced its EV360Zero system in Sunderland, bringing together a new battery plant and locally sourced green energy to power production, and the firm said it will expand the concept in other markets around the world.

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