Nissan Lays Out $17.6 Billion Plan To Electrify Its Future

Nissan has announced plans to spend around $17.6 billion over the next five years to accelerate the roll-out of electric vehicles. "And to emphasize that point, Nissan unveiled a pack of delightful EV concepts, including an adorable pickup truck, an outdoorsy SUV, and a sleek sports car," reports The Verge. From the report: Nissan said it will produce 23 new electrified models by 2030, 15 of which will be fully electric. The company is targeting a 50 percent electrification mix for its Nissan and Infiniti brands by the end of the decade. In the US, Nissan plans to take things a little slower, only targeting 40 percent of its sales to be EVs by 2040. On batteries, Nissan is pursuing what it calls "all-solid-state batteries (ASSB)" by 2028. The company is preparing a "pilot plant" in Yokohama, Japan, for early 2024. Solid-state batteries could theoretically charge faster, hold more power, and last longer than traditional lithium-ion batteries, which use liquid electrolytes to move energy around. While solid-state batteries have eluded researchers for years, some companies claim that a breakthrough is nearly at hand. Nissan says that solid-state batteries will help make EVs more affordable by reducing the price of battery packs down to $75 per kWh by 2028. The company aims to bring it further down to $65 per kWh to achieve cost parity between EV and gasoline vehicles in the future. To underline its commitment to an electric future, Nissan revealed a handful of EV concepts: a small pickup truck called Surf-Out; a boxy crossover called Hang-Out; a compact SUV called Chill-Out; and a convertible sports car called Max-Out. [...] It's an impressive commitment, but Nissan notably stopped short of making the same promise that other automakers have to phase out the production of gas-powered vehicles. For example, Volvo and General Motors have vowed to become EV-only companies by 2030 and 2040, respectively.

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