Nissan Has a Turnaround Plan That Involves Cheaper EVs and Other Electrified Models


nissan has a turnaround plan that involves cheaper evs and other electrified models

The last decade hasn’t been the kindest to Nissan. Its former CEO had to flee Japan and is currently hiding in Lebanon, and several high-value employees left shortly after. Now, the company has reportedly backed out of a tentative deal to invest in Fisker and is eying the possibility that China could eat everyone’s lunch with affordable EVs. CEO Makoto Uchida recently outlined the automaker’s comeback roadmap, called “The Arc,” which he said would involve launching dozens of new models and enhancing the brand’s competitiveness in the EV space.

Uchida said Nissan plans to release 30 new models by 2026, including 16 electrified models. Additionally, the company will refresh 60 percent of its gas vehicle catalog at the same time. Importantly, Nissan’s EV roadmap includes plans to slash prices by 30 percent, achieving cost parity between EVs and ICE vehicles by 2030. The automaker will group the development of some models to reduce costs and partner with outside companies to leverage tech and other advantages.

These moves can’t come soon enough. Nissan’s sales have fallen significantly since 2019, down from 5.52 million that year to just 3.7 million last year. Additionally, the automaker is pursuing measures to improve revenues by the end of the decade and cut more costs.

This is no small feat for anyone to pull off, let alone a manufacturer feeling the upper limits of its financial capabilities. Nissan only sells two EVs in the U.S. at the moment, one of which is set to be discontinued. The brand does not sell any hybrids here, putting it far behind its home country rivals, Honda and Toyota, in the U.S. market.

[Image: Nissan]

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