Electrification high on Nissan’s four-year plan

Nissan will expand its EV and e-Power range under a plan to achieve sustainable growth, financial stability and profitability by the end of the 2023 fiscal year.

It aims to have more than one million electrified sales units a year by end of FY2023 and will launch two more EVs in Japan along with four more e-Power vehicles, increasing its electrification ratio to 60% of sales.

The e-Power system uses a petrol motor solely to charge the battery and electric motor driving the vehicle.

The scalable plan, involving cost-rationalisation and business optimisation, will shift the company’s strategy from its past focus on inflated expansion, the company says.

Nissan aims to achieve a 5% operating profit margin and a sustainable global market share of 6% by the FY2023, including proportionate contributions from its 50% equity joint venture in China.

“Our transformation plan aims to ensure steady growth instead of excessive sales expansion,” Nissan chief executive Makoto Uchida says.

Nissan intends closing Barcelona plant in Western Europe, consolidating North American production around core models, closing a manufacturing facility in Indonesia and concentrating on its Thailand plant as single production base in ASEAN Alliance partners to share resources, including production, models, and technologies.

It will also exit South Korea and the Datsun business in Russia and introduce 12 models in the next 18 months.