Nissan to spend $17.6 bn over 5 years to increase vehicles' electrification

Nissan Motor Co announced it will spend 2 trillion yen ($17.59 billion) over the next five years to accelerate vehicle electrification, betting tighter carbon emission restrictions will spur demand for electric cars and hybrids.

Japan's No. 3 car maker said on Monday it will introduce 23 electrified vehicles by 2030, including 15 electric vehicles (EVs), and plans to introduce all solid-state batteries by March 2029.

Nissan, which was among the first mass-market EV makers with its Leaf model, is aiming to win market share with its deeper push into electrified vehicles and fend off rivals, including newer entrants such as Tesla Inc.

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