Nissan Sets Goal to Slash EV Production Costs by 30% by 2030

Nissan is focusing on reducing the cost of manufacturing battery electric vehicles (EVs) by up to 30% by the end of the decade in 2030, positioning itself as a formidable contender against other EV competitors

With a track record of selling 3.4 million cars worldwide in 2023, Nissan is entering a transformative phase by also introducing 30 new models by 2026, with a substantial 16 of them being EVs. The company also projects its EVs to represent 40% of total vehicle sales by 2026 and a remarkable 60% by the decade’s end.

Nissan’s strategy for this goal involves leveraging next-generation modular manufacturing techniques and innovative battery advancements, along with streamlined raw material sourcing. This proactive approach echoes similar actions by automaker companies across Japan, Europe, and the United States (U.S.), all vying to remain competitive amidst the growing EV landscape, particularly emerging Chinese manufacturers.

Despite historically higher production costs associated with EVs compared to internal combustion engine (ICE) cars, Nissan’s strategic vision is geared towards democratizing electric mobility by making EVs more accessible to consumers with this strategy, with results showing as the company’s Ariya model witnessed a 44.8% sales increase in the U.S. for Q1 2024 and the announcement of the collaboration with Mitsubishi on a U.S. targeted electric pickup truck.

With the cost reduction plan underway, Nissan is positioning itself for a resurgence, determined to reclaim its leadership position in the EV industry.

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