Nissan to invest $17.6 billion over next five years on proprietary battery development
CBSN
Nissan said Monday it is investing 2 trillion yen ($17.6 billion) over the next five years on developing a less expensive yet more powerful battery to boost its electric vehicle lineup.
Makoto Uchida, the Japanese automaker's chief executive, said 15 new electric vehicles will be available by fiscal 2030. Nissan Motor is aiming for a 50% "electrification" of the company's model lineup, under what Uchida called the "Nissan Ambition 2030" long-term plan. Electrified vehicles include hybrids and other kinds of environmentally friendly models other than just electric vehicles.
"Nissan will continue to evolve its lithium-ion battery technologies and introduce cobalt-free technology to bring the cost of battery packs ... by 2028," the company stated in a press release. With automakers pledging to soon make most of their vehicles electric, lithium demand is expected to increase as much as tenfold in the next decade.
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