Nissan to Cut EV Production Costs to Gasoline Car Level

Economy

Yokohama, March 9 (Jiji Press)--Japan's Nissan Motor Co. <7201> said Thursday that it will reduce costs to make electric vehicles to the same level as those for gasoline-powered vehicles by 2030.

The automaker also aims to lower the costs to produce hybrid vehicles to the gasoline vehicle level as early as 2026.

Nissan has set a target of making all new vehicles it sells in major markets either an EV or an HV in the early 2030s.

On Thursday, Nissan unveiled prototypes of its "X-in-1" powertrains. The powertrain for EVs will share main components, such as the motor and speed reducer, as that for HVs, achieving a cost reduction of 30 pct from 2019.

"Through our innovations in electrified powertrain development, we'll continue to create new value for customers and deliver 100 pct motor-driven vehicles...as widely as possible," Senior Vice President Toshihiro Hirai said in a statement.

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Jiji Press