Nissan is ambitious: electric models will account for 98% of its European sales by fiscal year 2026

February 27, according to foreign media reports, Nissan is accelerating the promotion of electrification in Europe and Japan.

Nissan said in a statement on Monday that it now expects 98 per cent of cars sold in Europe to be hybrid or all-electric vehicles by fiscal year 2026. Recently, the European Parliament adopted the "Zero Emission Agreement for the New Sale of fuel cars and minivans in Europe 2035" reached by the European Commission and the Council of Europe, requiring the 27 member states of the European Union to ban the production and sale of fuel vehicles from 2035.

In addition, in its home market, Nissan expects its share of electric vehicle sales to rise from 55% to 58%. Electrification in the US aims to account for 40 per cent of total car sales by fiscal year 2030. The company will fully localize U.S. electric vehicle production by 2026 and comply with the subsidy requirements of the inflation reduction Act, including decarbonization at its Tennessee plant.

At present, Nissan is trying to catch up with Tesla of the United States and Volkswagen of Europe. The company has pledged to spend 2 trillion yen to electrify more models and make battery-powered cars a key driver of its future growth.

Ashwani Gupta, Nissan's chief operating officer, said the company would launch 27 electric models by fiscal year 2030, including 19 all-electric models, up from 23 and 15, respectively. Based on this, 55% of Nissan's sales, including Infiniti, will come from electric cars. Electric vehicles accounted for 13% of global sales in the third quarter of 2022.

It is understood that Nissan is the first Japanese car company to try to develop electrification, releasing the world's first mass-produced pure electric vehicle Leaf as early as 2010.