The trusted voice of the industry
for more than 30 years

Nissan to cut EV costs

Marque aims to take on Chinese rivals with 16 electric cars in the next three years.
Posted on 28 March, 2024
Nissan to cut EV costs

Nissan is aiming to reduce the manufacturing costs of electric vehicles (EVs) by about one-third third by 2030.

It comes as the Japanese company, which sold around 3.4 million cars worldwide in 2023, aims to increase its registrations by an extra one million by 2026.

As part of its plan, Nissan will launch 30 new models in the next three years with 16 expected to be EVs. This would mean electric cars accounting for 40 per cent of its sales by 2026, jumping to 60 per cent by decade’s end.

The company aims to slash the costs of producing these models by 30 per cent in the 2030 financial year with new battery innovations, group sourcing of parts and next-generation modular manufacturing.

The move mirrors that of other carmakers as they attempt to reduce EV costs and prices amid competition from Chinese rivals, which have gained a significant market share and often produce more affordable vehicles.

Nissan’s plants adopt its “intelligent factory” concept, which was launched at its Tochigi plant and leans heavily on robots to cut production time by one-fifth.

It will also begin to develop EVs in “families” whereby a “main vehicle” is created and variations based on that design rolled out. This will halve production costs on these variants and decrease development lead times by four months.

Earlier this month, Nissan said it would join forces with Honda and work together. The memorandum of understanding will see the companies collaborating on EV technology, including components and software.