Yahoo Finance's Pras Subramanian details Nissan's new investment in electric vehicles.
Nissan was a pioneer in all-electric vehicles with the Leaf model, which was first introduced 11 years ago, but it has been preoccupied with an operational turnaround focused on reducing its production capacity and restoring a dented brand, particularly in the U.S.
Nissan Motor said Monday that it will spend 2 trillion yen ($17.59 billion) over the next five years to accelerate its switch to electric vehicles and try to catch up with the competition. The Japanese car maker plans to launch 15 fully electric vehicles amid a fleet of 23 “electrified” vehicles. CEO Makoto Uchida said in an online presentation that Nissan’s goal was to “advance [its] effort to democratize electrification.”