Nissan to invest £13bn into electric cars by 2026

The Japanese car maker is looking to have EVs make up half of its production by 2030

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Nissan plans to put electrification at the heart of its business, investing ¥2 trillion (£13.2bn) into electric vehicles (EVs) by 2026.

The announcement is part of its 2030 Ambition, through which it plans to become a more sustainable and climate-conscious business.

By the end of the decade, the Japanese car manufacturer is looking to produce 15 new EVs and 23 new electric models, taking its mix of production to 50% electric worldwide.

By 2026, it is looking to have EVs make up 75% of its European sales, 55% of its Japanese sales and 40% of its Chinese and American sales.

To drop the cost and footprint of producing lithium-ion batteries for its cars it will look to introduce cobalt-free technology by 2028.

It is targeting a reduction in the price of its batteries by $75 per KW by 2028 to accelerate the adoption of EVs allow for quicker production.

Ashwani Gupta, Nissan COO, said: “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.”

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