Nissan to Spend $17.6 Billion for 23 New Battery-Powered Cars Through 2026

Image: Nissan

After Nissan shared that the upcoming Ariya electric vehicle (EV) would be priced starting at $47,125 USD earlier this month, the company has officially unveiled plans to increase its funding for zero-emission vehicles.

Nissan announced plans on Monday to spend 2 trillion yet ($17.58 billion USD) to add 23 new battery-electric vehicles to its repertoire over the course of the next five years, according to The Wall Street Journal.

With the move, Nissan is hoping to be able to reclaim some of its EV dominance generated by the release of the Leaf, a pioneering EV for consumers, essentially doubling the amount it has spent on EVs since 2010.

The company will have 15 new electric vehicles, noting it was aiming for a 50% electrification mix by 2030, while debut its proprietary solid state battery tech in 2028.

By 2026, Nissan will increase its electrification sales mix by region as follows:

• Europe by more than 75% of sales
• Japan by more than 55% of sales
• China by more than 40% of sales
• The United States by 40% of EV sales in fiscal year 2030

Nissan also debuted its Chill-Out next-gen crossover EV and other concepts, including the Hang-Out and Surf-Out truck, below:

Nissan CEO Makoto Uchida said, “We have a 10-year head start over our competitors in electrification.” Uchida continued, “We have to closely monitor the market evolution around the world.”

By 2030, according to Nissan, the company also plans for half of its vehicle sales to be for at least partially battery-powered vehicles. So that means not all cars will be fully-electric, it appears.

The company said in a press release it plans to have electric vehicles powered by its proprietary all-solid-state batteries (ASSB) by fiscal year 2028, with a pilot plant set for Yokohama by 2024.

“We are proud of our long track record of innovation, and of our role in delivering the EV revolution. With our new ambition, we continue to take the lead in accelerating the natural shift to EVs by creating customer pull through an attractive proposition by driving excitement, enabling adoption and creating a cleaner world,” said Nissan COO Ashwani Gupta, in a statement.

Check out Nissan’s full roadmap to 2030 below:

Similarly, U.S. President Joe Biden signed an executive order earlier this year to electrify 50 percent of new cars sold by 2030.

Nine of the 20 new Nissan vehicles are also expected to be unveiled by 2026 as pure battery-electric vehicles, with the remainder set to make up a handful of new hybrid gas-electric vehicles.