With automakers turning their attention to electric vehicles, former market leader Nissan is catching up. To make up for lost time, the company announced today that it will invest $ 17.6 billion over the next five years “to accelerate the electrification of its vehicle range and the pace of technological innovation.”
The plan called “Nissan Ambition 2030” is characterized by a lack of ambition.
The company says it will introduce 15 new electric vehicles, though it has set a generous deadline for 2030. It also said that by the end of the decade, 50 percent of Nissan and Infiniti sales will be “electrified,” which is the industry standard for adding electric motors that don’t necessarily replace internal combustion engines. Much of Nissan’s strategy is based on production hybrids, in which a gas engine with extended range charges a small battery. It’s a strategy that looks good on paper, but from other automakers either because of mediocre sales (Chevy Volt) or. was largely abandoned threatening government regulations.
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