Nissan Motor announced on Monday its strategic vision to propel its global sales by 1 million vehicles over the next three years, accompanied by the launch of 30 new models by March 2027. In a bid to enhance profitability, Japan’s third-largest automaker aims to achieve this growth while implementing cost-cutting measures and focusing on innovation.
Under its updated medium-term business plan, Nissan targets an operating profit margin exceeding 6% and aims to deliver total shareholder returns exceeding 30% by the end of the plan period. Despite being a pioneer in electric vehicles with its groundbreaking Leaf model, Nissan acknowledges the intensified competition in the EV market, particularly from rivals like Tesla and BYD, especially in China.
To reclaim its position in the EV segment, Nissan plans to accelerate its electrification efforts, with a goal for electrified vehicles, including hybrids, to constitute 60% of its global sales by the end of the decade. This ambition reflects an upward revision from the previous target of 55% set in February 2023.
Acknowledging the evolving automotive landscape and the need for collaboration, Nissan and fellow Japanese automaker Honda Motor have expressed openness to exploring a strategic partnership. This alliance aims to foster cooperation on critical components for EVs and other strategic areas, amidst the fiercely competitive market environment.
Out of the 30 new models slated for release, Nissan intends to introduce 16 electrified vehicles, signaling a significant emphasis on sustainable mobility solutions. Additionally, Nissan aims to achieve a 30% reduction in the cost of next-generation EVs by 2030, aligning with its vision to make electric vehicles more accessible and competitive with traditional internal combustion engine models.
Nissan’s ambitious plans underscore its commitment to innovation, sustainability, and market leadership as it embarks on a transformative journey to shape the future of mobility.
