Nissan Motor Plans to Sell More Than a Dozen New EV Models by 2026 -- Update

Dow Jones03-25

By Kosaku Narioka

Nissan Motor plans to start selling more than a dozen new electric-vehicle models, aiming to boost total car sales by 1 million units within three years.

The Japanese automaker said Monday that it intends to start selling 30 new models, including 16 electrified models, and targets an additional 1 million vehicle sales by the year beginning April 2026.

Nissan also said it plans to revamp most internal-combustion-engine models by then.

In February it cut its global sales forecast to 3.55 million units for the fiscal year ending March, down from its previous projection of 3.70 million units, citing disruption in logistics and intensifying competition.

The company said Monday it aims to achieve cost parity with internal-combustion cars by the year starting April 2030.

Nissan said it will leverage strategic partnerships to stay competitive and explore new partnerships in Japan and the U.S.

Nissan has been reshaping its global strategy following the restructuring of its alliance with Renault and Mitsubishi Motors announced in February last year.

Earlier this month, Nissan and Honda said they would study ways to collaborate on EVs, their core parts and software. Early discussions involve the joint procurement and development of components such as batteries, people at the companies have said.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

March 25, 2024 03:49 ET (07:49 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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