Nissan to spend $17.6 billion over 5 years in electrification push
Nissan Motor Co announced it will spend 2 trillion yen ($17.59 billion) over the next five years to accelerate vehicle electrification, aiming to catch up with rivals in one of the fastest growth areas for the automobile industry.
This is the first time Japan’s No. 3 automaker, one of the world’s first mass-market electric vehicle (EV) makers with its Leaf model more than a decade ago, is unveiling a comprehensive electrification plan.
Nissan will be spending twice as much as it did in the previous 10 years for a share of the EV market as rivals, including Toyota Motor Corp and newer entrants such as Tesla Inc, move ahead with their electric-car plans.
