Nissan Motor announced plans to launch 30 new models in the next three years, with the aim to increase global sales by one million vehicles while improving profitability by cutting costs, Reuters reported on Monday. The company also targets an operating profit margin of over 6 per cent by March 2027 and total shareholder returns of more than 30 per cent. Being formerly a pioneer in electric vehicles with its all-battery-powered Leaf, Nissan now aims to have electrified vehicles, including hybrids, make up 60 per cent of global sales by the end of the decade, up from a goal of 55 per cent in February 2023 release. Nissan and domestic rival Honda Motor announced this month they would consider a strategic partnership to collaborate on key components for EVs and other areas. The Japanese automaker expects all-battery powered cars to constitute about a fifth of its global sales by then and those running on its hybrid power system to account for another fifth, while those with only an internal combustion engine would get the remaining 60 per cent. To achieve these goals, Nissan plans to introduce 16 electrified models, including all-battery EVs and plug-in hybrids. The company also plans to reduce the cost of next-generation EVs by 30 per cent by 2030 to match internal combustion engine models. In the US and Canada, Nissan will launch seven new models and revamp 78 per cent of its passenger vehicle line-up for the Nissan brand, including e-power and plug-in hybrid models. In China, Nissan is poised to introduce eight new-energy vehicles, with four being Nissan brand models, and six new models in Europe. Nissan will explore new partnerships in the US and Japan and continue leveraging its alliance with Renault and Mitsubishi Motors in Europe, India, and Latin America. The company is also in talks to invest in EV maker Fisker to utilise its truck platform. These initiatives are part of Nissan's strategy to transition to EVs and achieve long-term profitable growth.
