Nissan plans to sell 50% of its global sales from electric cars in 2030.

According to foreign media reports, Nissan plans to make electric and hybrid vehicles account for half of its global sales by 2030. By the end of 2029, electric vehicles will account for 50 per cent of sales in china and 80 per cent in Europe, Nissan said.

At present, many competitors, including Volkswagen, are competing to invest in electric vehicles. Although Nissan is one of the pioneers in the field of electric vehicles, its electric vehicle sales have not been on a par with competitors such as Tesla. The company's goal is to boost sales of its environmentally friendly models by increasing investment.

Last year, electric and hybrid vehicles accounted for about 10 per cent of Nissan's global sales, 2 per cent in China and 10 per cent in Europe. As both China and Europe have introduced stricter environmental measures, Nissan hopes to increase the share of environmentally friendly models in both markets. China is Nissan's largest market, with a total of 1.45 million vehicles sold in China in fiscal year 2020. Over the same period, Nissan sold 390000 vehicles in Europe. Taken together, these two markets account for half of Nissan's global sales. Nissan predicts that traditional gasoline-powered cars will still account for a high proportion of new car sales in Japan and the United States by 2030.

Nissan's only plant in Europe in the UK will be converted into a plant specializing in electric and hybrid cars. In addition, the company will also increase investment to speed up the production of electric vehicles. Nissan is estimated to have invested Y3,000bn in the first 10 months of fiscal 2020 and aims to increase investment by more than 30 per cent over the next decade. The spending will be used to increase battery production and the development of new models.

Nissan has launched a total of five electric cars so far, and the company plans to add 10 more by fiscal year 2026. To reduce the price of electric vehicles to the same level as gasoline cars, Nissan will work with its partners Renault and Mitsubishi to purchase batteries, which account for between 30% and 40% of the total production cost of electric vehicles.

At a time when carbon reduction is being promoted around the world, carmakers are stepping up investment in the development of electric vehicles. Toyota will invest 1.5 trillion yen in batteries and aims to sell 2 million electric and fuel cell vehicles worldwide by 2030. Volkswagen will invest 35 billion euros by 2025 and increase the share of electric vehicles in global sales to 50 per cent by 2030. Automakers such as Daimler, GM and Honda also plan to phase out internal combustion engine models, including hybrid cars.