In a significant move, Nissan Motor Co revealed its plans to electrify its entire lineup of new European models, aiming to exclusively offer electric vehicles (EVs) in Europe by 2030. The decision aligns Nissan with the growing trend of automakers transitioning to electric power by the end of this decade.
A Firm Commitment to Electric Mobility
Nissan’s CEO, Makoto Uchida, emphasized the company’s unwavering commitment to this transition, stating, “There is no turning back now.” This resolute commitment underscores Nissan’s intent to make a substantial impact in the EV market.
Manufacturing EVs in the UK
Among the two new EV models confirmed for the European market, one will be produced at Nissan’s Sunderland manufacturing plant in northeast England. This move is significant for Nissan, as it navigates the complexities arising from the “rules of origin” agreed upon in the Brexit deal between the UK and the European Union. Ensuring compliance with these rules is vital to avoid potential 10% tariffs on EVs traded between the UK and the EU, which could take effect as early as January.
Expanding the EV Lineup
Earlier this year, Nissan revised its EV targets, acknowledging the need to catch up in a market largely dominated by newcomers like Tesla. The company announced plans to introduce 19 new EV models by 2030. However, specific launch timelines for these models remain undisclosed.
Electrification Well Underway
Nissan had previously outlined its goal to have 98% of its sales in Europe electrified, encompassing fully-electric vehicles and hybrids, by the end of its fiscal year on March 31, 2027. The updated objective of becoming fully electric in Europe by 2030 is consistent with Nissan’s alliance partner, Renault, which also aims to transition the Renault brand to all-electric vehicles by that year. Other major automakers like Ford and Stellantis have also announced plans to achieve full electrification in Europe by 2030. Volvo is taking this a step further by planning to exclusively offer EVs worldwide by 2030.
Navigating Competitive Challenges
Uchida acknowledged the intensifying competition in the EV market, particularly from Chinese automakers offering more cost-effective electric vehicles. Nissan is determined to lower its own production costs as it makes substantial investments in electrification to remain competitive.
Uchida stated, “There’s a lot of competition happening … the Chinese (carmakers) are coming massively. The Chinese have moved much, much faster than we expected.”