The Wall Street Journal: Nissan plans to spend $17.6 billion on battery-powered vehicles over 5 years
TOKYO— Nissan Motor Co.
7201,
-3.82%
said Monday it planned to spend $17.6 billion over the next five years as part of a plan to add 20 new battery-powered vehicles to its lineup.
The company hopes to recapture some of the prominence it formerly held in the electric-vehicle race after its pioneering introduction of the Leaf EV more than a decade ago. Investors have given a boost to the share prices of car companies that are betting big on EVs, including relative newcomers such as Tesla Inc.
TSLA,
-3.05%,
and industry stalwarts like Ford Motor Co.
F,
-2.47%
and Volkswagen AG
VOW,
-3.58%.
Nissan said some of those 20 new vehicles would be purely battery-powered, like the Leaf, while others would be gasoline-electric hybrids. It didn’t say what proportion would be pure electric vehicles.
In its strategy released Monday, Nissan said that by 2030, half of its vehicles sold would be powered at least partly by batteries. That matches similar targets made by rivals in the U.S. and Europe earlier this year.
An expanded version of this report appears on WSJ.com.
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