A Nissan Aria electric car is on display at the 2020 Beijing International Automotive Exhibition (Auto China 2020) at the China International Exhibition Center on September 27, 2020 in Beijing, China.
Vcg | Visual China Group | Good pictures
Nissan is targeting an additional 1 million vehicle sales over the next three years and a 30% reduction in electric vehicle production costs by 2030, the Japanese carmaker announced on Monday.
In a new medium-term business plan, Nissan said it will introduce 30 new models by fiscal 2026, 16 of which will be electrified. It aims for EV and combustion engine costs to reach parity by 2030.
“This program will help us move even faster in driving value and competitiveness,” Nissan President and CEO Makoto Uchida said in a statement.
“Faced with extreme market volatility, Nissan is taking decisive steps guided by a new plan to ensure sustainable growth and profitability.”
The automaker said it is targeting an operating profit margin of more than 6% and “long-term profitable growth” by the end of fiscal 2026.
Under the two-part plan dubbed The Arc, Nissan aims to ensure volume growth through a “designed regional strategy” and prepare for an accelerated EV transition by balancing its portfolio between EV and combustion cars, growing volumes in key markets and financial discipline.
This will be supported by “smart partnerships, enhanced EV competitiveness, differentiated innovation and new revenue streams”.
Nissan said the strategy could generate 2.5 trillion yen ($16 billion) in potential revenue from new business opportunities in fiscal 2030.
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