Nissan aims to sell one million electric vehicles annually by 2022

Nissan logo is seen at the 2017 New York International Auto Show in New York

The Japanese carmaker set itself an annual target of selling 1 million new energy vehicles, including those with its e-Power powertrains, by the year ending in March 2023, it said in a statement yesterday. The automaker is also planning a "product offensive" in China that will include electric cars developed in concert with local firms. The project utilizes the growing number of used electric-car batteries that will become available as electric vehicles increase in popularity around the world. That will include a new crossover electric SUV inspired by the recent Nissan IMx Concept. Its luxury Infiniti brand would begin carrying new electric models from 2021, it added.

Equip 20 models in 20 markets with autonomous driving technology. Nissan has not announced when that vehicle will reach showrooms.

"Our strong China offensive will start this year, led by a Nissan EV in the C-segment, deriving from the Leaf technology, with a body type adapted to the Chinese customers' taste", Nissan chief planning officer Philippe Klein told reporters in Tokyo. The company is also targeting an 8% core operating profit margin and cumulative free cash flow of 2.5 trillion yen.

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Concerns about EV battery costs and components have prompted many automakers to develop a variety of lower emissions technologies, but Klein said that Nissan would largely forego plug-in hybrids and hydrogen fuel cell technologies, given their low cost-performance at the moment.

Last year, Nissan introduced a revamped version of its Leaf electric vehicle that cost almost $29,000 and can travel about 150 miles on a single charge. And further two EV derivatives are also being prepared for the Venucia brand.

As we previously reported, the automaker's e-POWER powertrain is entirely gas-powered since it is equipped with a hybrid powertrain that works with a gas generator charging a battery pack which feeds the electric motor.

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Nissan expects electrified vehicles to account for 40 per cent of the company's sales in Europe and Japan by 2022.

By 2025, Infiniti says its electrified vehicles will comprise half of its global sales. The plan also talks about company's plans on driving systems, vehicle connectivity and autonomous driving technology. The company aims to sell 1 million such vehicles that year by offering them in 20 markets.

This will be followed by enhancing ProPilot capabilities for automated multilane driving on highways and managing vehicle destinations.

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