As global EV sales climb, Nissan looks to compete with leaders like Tesla and BYD. Nissan now plans to export EVs made in China globally to drive down costs and boost sales.
Nissan will build EVs in China and export them globally
Electric vehicle sales hit a new record last month, with nearly 1 million units sold. The US alone hit a major milestone this month with over 1 million EVs sold in 2023.
Once viewed as a leader in the EV market, Nissan aims to revamp sales. The Japanese automaker announced a deal with one of Beijing’s top universities to harness China’s resources as it looks to compete in the global EV race.
The partnership aligns with Nissan’s commitment to “in China, for China and world.” Nissan and Tsinghua University will establish a joint research center next year.
The focus will be on attracting younger buyers, like Gen Z. It will also look into expanding EV charging, battery recycling, and energy management.
“We hope that this collaboration will help us gain a deeper understanding of the Chinese market,” Nissan’s CEO, Makoto Uchida, said. He explained that the partnership will help Nissan “better meet the needs” of EV buyers in China and overseas.
The news comes as Nissan is finally ramping up output of its second global EV, the Nissan Ariya.
Nissan’s Intelligent Factory is operating at full steam after a slow start due to COVID-19 and the global chip shortage. Nissan has built nearly the same (26,900) numbers of EVs from April to October as it did all last fiscal year (27,600).
The news comes as Nissan aims to cut costs to better compete with leaders like BYD and Tesla. Its Intelligent Factory has helped reduce production costs by 10%, according to Nissan.
Masashi Matsuyama, president of Nissan China, told reporters that the company is looking to export upcoming EVs made in China to rival domestic automakers like BYD.
City Dwellers’s Take
Nissan is joining Tesla, Ford, and other automakers that build EVs in China to export to global markets.
With lower material and production costs, EVs can be built in China for less. As sales of its first electric car, the LEAF, continue fading, Nissan looks to spark life back into the brand with lower-cost EVs.
Nissan plans to build a next-gen LEAF, ahead of an electric Juke and Qashqai at its Sunderland UK plant. The decade-old LEAF will be reborn as a crossover coupe SUV. Reports suggest it will look more like a “mini-Ariya” EV. The new model is expected to debut next year.
After being topped by BYD in passenger car sales last month for the first, Nissan looks to take back its share with competitive EVs.
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