For a decade, automakers have been talking about going “all in” on an “electric future” (usually with a mention of “grandchildren” thrown in). But the true measure of commitment to a new product is for a company to stop investing its money in old products. Hyundai’s recent announcement that it would end development of new ICE technology was a major milestone.
Now Nissan has taken a step in that direction, announcing that it plans to stop developing new internal combustion engines in all its major markets except the US, and shift its focus to EVs.
According to Nikkei (via Reuters), the automaker will continue limited development of its gasoline engines for the US market, mainly for pickup trucks (a segment in which it has only a small market share).
Last December, the Japanese automaker announced a new electrification plan that includes investments of two trillion yen (around $17.6 billion) over the next five years. It said at that time that it plans to electrify at different rates in different markets. By 2026, it hopes to make electrified vehicles (EV, PHEVs and hybrids) 75% of sales in Europe, 55% of sales in Japan and 40% in China. In the electrically-challenged US, the company set a much more modest goal of 40% by 2030.
Nissan also plans to build new battery recycling factories in the US and Europe by the end of 2025.