Japanese automaker Nissan Motor raised its targets for electrified car sales on Monday and announced the construction of a second battery plant in the U.S., in an effort to catch up in an industry increasingly dominated by numerous competitors including Tesla.
Despite being a pioneer of battery-powered vehicles with the Nissan Leaf, the automaker has struggled in recent years due to the rise of Tesla and other upstart manufacturers.
Up from its earlier projection of 50%, Nissan now expects electric vehicles, such as its advanced hybrid e-power cars, to account for more than 55% of its global sales by fiscal 2030.
The company stated in a statement that it plans to release 27 new electrified vehicles by 2023, 19 of which will be battery EVs.
According to Chief Operating Officer Ashwani Gupta, the firm also plans on constructing a second battery plant in the United States to help it meet the requirements of the Inflation Reduction Act.
