Nissan Motor Co. said Monday it plans to make nearly all of its cars sold in Europe electrified by fiscal 2026, as part of efforts to accelerate its electrification push globally.
In a revision to its long-term strategy revealed in November 2021, the automaker said it expects to increase the ratio of hybrid and all-electric vehicles among its cars sold in Europe to 98 percent from its earlier target of 75 percent.
Europe is a leading market for electric cars with its increasingly tight environmental regulations. Car markets in the United States and Japan are also shifting their focus away from gasoline-only powered cars.
The announcement came after Nissan said earlier this month it will buy an up to 15 percent stake in Ampere, an electric-vehicle venture to be set up by its alliance partner Renault SA.
"(The decision) has given us an opportunity to increase our market coverage and use our partner to support our European business," Nissan Chief Operating Officer Ashwani Gupta said in an online press conference.
Globally, the company aims to raise the ratio of electrified cars to 44 percent by the fiscal year ending March 2027, up from the previous goal of 40 percent, with the target for the Japanese market revised upward to 58 percent from 55 percent.
Nissan, on the other hand, lowered its target for China to 35 percent from 40 percent, citing lasting demand for combustion-engine cars, such as gasoline cars.
The company maintained its target for the U.S. market, saying it still plans to make more than 40 percent of its cars sold there to be electrified by fiscal 2030.
The Japanese car manufacturer also revealed a plan to increase its all-electric vehicle offerings. It now aims to sell 19 new EV models by fiscal 2030, up from 15 previously.
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