Nissan has set ambitious targets for the coming years, aiming to boost vehicle sales by an additional 1 million units over the next three years and slash electric vehicle (EV) production costs by 30% by 2030, as announced by the Japanese automaker on Monday.
In its new medium-term business plan, Nissan outlined its intentions to introduce 30 new models by fiscal 2026, with 16 of them being electrified. The company is striving to achieve cost parity between EVs and combustion engine vehicles by 2030.
Makoto Uchida, President and CEO of Nissan, emphasized the significance of the plan, stating, “This plan will enable us to go further and faster in driving value and competitiveness.”
He added, “Faced with extreme market volatility, Nissan is taking decisive actions guided by the new plan to ensure sustainable growth and profitability.”
Nissan also aims to achieve an operating profit margin of over 6% by the end of fiscal 2026, alongside securing “long-term profitable growth.”
This strategic move from Nissan comes amid a backdrop where the hype surrounding electric vehicles has somewhat subsided, with major automakers such as Ford Motor, General Motors, Mercedes-Benz, and Volkswagen adjusting their EV plans in response to moderating demand.
Even Tesla, a leading player in the EV market, is preparing for a potentially lower growth rate, according to CEO Elon Musk.
Moreover, traditional automotive giants face fierce competition from China in the realm of electrification, with Chinese automakers exerting considerable pressure on prices in the world’s largest EV market.
Uchida acknowledged the challenges posed by the rapidly evolving EV sector, particularly regarding pricing pressures, stating that the sector’s development had occurred earlier than anticipated.
Under the comprehensive plan titled “The Arc,” Nissan intends to pursue volume growth through a tailored regional strategy, prepare for an accelerated EV transition, and maintain financial discipline.
The company aims to achieve these goals through smart partnerships, enhanced EV competitiveness, differentiated innovations, and the exploration of new revenue streams.
Nissan estimates potential revenues of 2.5 trillion yen ($16 billion) from new business opportunities by fiscal 2030 through the execution of this strategy.
