Tokyo: As the adoption of electric vehicles enters top gear globally amid rising petrol-diesel prices, Japanese auto-maker Nissan on Monday said it will invest $17.6 billion (2 trillion Yen) in developing new EVs and battery technology over the next five years.

Unveiling the 'Nissan Ambition 2030' plan, the company announced it will launch 23 new electrified models, including 15 new EVs, aiming for a 50 percent electrification mix, by the fiscal year 2030.

"We will drive the new age of electrification, advance technologies to reduce carbon footprint, and pursue new business opportunities. We want to transform Nissan to become a sustainable company that is truly needed by customers and society," said Makoto Uchida, Nissan CEO.

Over the next 10 years, Nissan aims to deliver exciting, electrified vehicles and technological innovations while expanding its operations globally.

The vision supports Nissan's goal to be carbon neutral across the life cycle of its products by the fiscal year 2050.

With the introduction of 20 new EV and e-POWER equipped models in the next five years, Nissan intends to increase its electrification sales mix across major markets by the fiscal year 2026, including Europe by more than 75 percent of sales, Japan by more than 55 percent of sales, China by more than 40 percent of sales and the US by 40 percent of EV sales in the fiscal year 2030.

"With our new ambition, we continue to take the lead in accelerating the natural shift to EVs by creating customer pull through an attractive proposition by driving excitement, enabling adoption, and creating a cleaner world," said Nissan COO Ashwani Gupta.

Representing the next stage of Nissan's electrified future, the company also unveiled three new concept cars that offer enhanced experiences through sophisticated technology packaging.

Nissan aims to launch EV with its proprietary all-solid-state batteries (ASSB) by the fiscal year 2028 and ready a pilot plant in Yokohama as early as the fiscal year 2024.

With the introduction of breakthrough ASSB, Nissan will be able to expand its EV offerings across segments and offer more dynamic performance.

"By reducing charging time to one-third, ASSBs will make EVs more efficient and accessible. Further, Nissan expects ASSB to bring the cost of battery packs down to $75 per kWh by the fiscal year 2028 and aims to bring it further down to $65 per kWh to achieve cost parity between EV and gasoline vehicles in the future," the company announced.

Nissan intends to increase its global battery production capacity to 52 GWh by the fiscal year 2026, and 130 GWh by the fiscal year 2030.

Source- IANS