(qlmbusinessnews.com Tues 26th, 2024) London, UK —
Nissan Unveils Ambitious Plan to Slash Electric Car Costs and Boost Sales.
In a bid to stay competitive in the rapidly evolving automotive landscape, Nissan has announced bold plans to drastically reduce the cost of manufacturing electric vehicles (EVs) by nearly a third by the year 2030. The Japanese automaker aims to take on its Chinese counterparts head-on, with an aggressive strategy that includes launching 16 new EV models over the next three years.
With an eye on expanding its global footprint, Nissan intends to ramp up sales by an additional 1 million vehicles by 2026. As part of this ambitious agenda, the company plans to introduce 30 new models within the next three years, with a significant portion—16 models—being electric.
By 2026, Nissan projects that EVs will make up 40% of its total sales, climbing to 60% by the end of the decade. To achieve this target, the company is focused on driving down production costs through various initiatives. These include leveraging new battery technologies, implementing next-generation modular manufacturing processes, and optimizing group sourcing of components.
Nissan's strategic shift mirrors similar moves by automotive giants in the US, Europe, and Japan, all grappling with the imperative to reduce EV costs amidst stiff competition from Chinese rivals. Chinese automakers have gained substantial market share, offering more affordable electric vehicles compared to their counterparts in other regions. In fact, according to the EU Commission, Chinese models are typically 20% cheaper than their European-made counterparts.
While Nissan was an early pioneer in electric vehicle technology with the Nissan Leaf, it has since faced increased competition from Chinese manufacturers like BYD and Li Auto. To stay ahead in the race, Nissan is revamping its manufacturing processes, with plans to adopt the Nissan Intelligent Factory concept across its global plants. This initiative, which heavily incorporates robotics, aims to streamline production, reducing time by a fifth.
In the UK, Nissan's Sunderland plant will be part of this transformation, slated to adopt the Nissan Intelligent Factory concept starting in 2026 and completing by 2030. Additionally, Nissan will implement a new approach to EV development, grouping vehicles into “families” where a main vehicle design serves as the basis for various iterations. This streamlined approach is expected to cut costs for variant models by 50% and shorten development lead times by four months.
In a surprising move earlier this month, Nissan announced a collaboration with rival Honda to jointly develop electric vehicle technology. This partnership aims to pool resources and expertise, ultimately driving down development costs for both companies.
As Nissan charts its course for the future, its three-year plan includes ambitious sales targets, including selling an additional 330,000 vehicles in the US by 2026 and increasing Chinese sales by 200,000 units to reach 1 million in the next three years. With these initiatives, Nissan is positioning itself for success in an increasingly electrified automotive landscape.
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