Nissan's Chief Executive, Makoto Uchida, presented the company's strategic vision, emphasizing the need for the auto industry to embrace continuous change as the new norm. The Japanese automaker is determined to transform its operations and product lineup under "The Arc" pathway, with a focus on making electric models as cost-effective as gas-powered ones by fiscal 2030. This ambitious plan includes the launch of 34 electric vehicle models from fiscal 2024 through 2030, with the goal of electric vehicles constituting 40% of Nissan's global offerings by fiscal 2026.
In an effort to reduce costs and streamline production processes, Nissan will collaborate with suppliers from the development stage, integrate robotics and artificial intelligence into production methods, and implement component-sharing among models. The company also pledged to drive innovation in autonomous vehicles to enhance road safety. Leveraging partnerships with Mitsubishi Motors Corp., Dongfeng Nissan in China, and Renault, Nissan aims to strengthen its global presence and technological capabilities. Additionally, talks with rival Honda Motor Co. regarding electrification and artificial intelligence exemplify the industry's increasing collaboration to meet the rising demand for sustainable transportation amid growing concerns over carbon emissions and sustainability.
Despite being an early adopter of electric vehicles with the launch of the Leaf EV in 2010, Nissan faces fierce competition from Tesla and Chinese manufacturers in recent years. The company's focus on expanding its offerings of new EVs, plug-ins, and hybrids across various markets reflects its commitment to driving value and competitiveness in the ever-changing automotive landscape. The "Arc" plan signals Nissan's determination to navigate market challenges and accelerate its journey towards a sustainable and electrified future, despite facing setbacks such as chip shortages impacting the industry.