Nissan may soon be just as competitive as some other Japanese carmakers here
Nissan Motor (Nissan), recently said it would launch 30 new models over the next three years and aim to raise its global sales by 1 million vehicles while cutting costs to improve profitability. So will Nissan be able to compete for the spot of number 1 non-national carmaker in Malaysia over the next few years? Let’s see.
Announcing an update to its medium-term business plan, Japan’s third-largest automaker by sales said it would target an operating profit margin of over 6 percent by end of the financial year to March 2027 and total shareholder returns of more than 30 percent.
Moreover, Nissan was a pioneer in electric vehicles (EVs) with its fully battery-powered Leaf but its EV efforts have been eclipsed by the likes of U.S. rival Tesla, opens new tab and Chinese leader BYD, including in the world’s biggest car market, China.
Nissan expects all-battery powered cars to make up about a fifth of its global sales by then and those running on its hybrid power system to account for another fifth, while those with only an internal combustion engine would comprise the remaining 60 percent.
The Japanese automaker now aims to have electrified vehicles, which include hybrids, make up 60 percent of global sales by the end of the decade, up from a goal of 55 percent released in February 2023. Faced with cut-throat competition, Nissan and domestic rival Honda this month said they would consider a strategic partnership to collaborate on key components for EVs and other areas.
Of the 30 new models, 16 would be electrified, including eight all-battery powered vehicles and four plug-in hybrids, it said. Nissan plans to reduce the cost of the next generation of EVs by 30 percent to make them comparable to internal combustion engine models by 2030.
On top of that, in the U.S. and Canada, Nissan expects to launch seven new models and to revamp 78 percent of its passenger vehicle line-up for the Nissan brand as well as launching e-power and plug-in hybrid models. The automaker also plans to roll out eight new-energy vehicles in the Chinese market, four of which will be Nissan brand models, and six new models in Europe.
It is also aiming to launch by the end of its financial year to March 2029 a new electric 3-row SUV that will come with a 50 percent reduction in quick charging time and 50 percent higher energy density compared to the Nissan Ariya model.
We got all this from Reuters and their full article is linked here. Thank you Reuters for the information and images.
