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Nissan will spend $17.59 billion to accelerate vehicle electrification

Christian Fernsby |
Nissan announced it will spend 2 trillion yen ($17.59 billion) over five years to accelerate vehicle electrification to catch up with competitors in one of the fastest growth areas for car makers.

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Nissan said on Monday it will launch 23 electrified vehicles by 2030, including 15 electric vehicles (EVs), and wants to reduce lithium ion battery costs by 65% within eight years. It also plans to introduce potentially game changing all solid state batteries by March 2029.

Those commitments, Chief Executive Makoto Uchida said, would make EVs affordable to more drivers.

"We will advance our effort to democratise electrification," he said in an online presentation.


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