A Nissan Ariya electric car is on display during 2020 Beijing International Automotive Exhibition (Auto China 2020) at China International Exhibition Center on September 27, 2020 in Beijing, China.
Vcg | Visual China Group | Getty Images
Nissan is targeting an additional 1 million vehicle sales by the end of fiscal 2026 and a 30% reduction in electric vehicle production costs by 2030, the Japanese carmaker announced Monday.
In a new medium-term business plan, Nissan also said it would launch 30 new models by fiscal year 2026, with 16 of these electrified. It’s aiming for EV and combustion engine costs to reach parity by 2030.
“This plan will enable us to go further and faster in driving value and competitiveness,” Nissan President and CEO Makoto Uchida said in a statement.
“Faced with extreme market volatility, Nissan is taking decisive actions guided by the new plan to ensure sustainable growth and profitability.”
The automaker also said it is targeting an operating profit margin of more than 6% by the end of fiscal 2026.
This is a breaking news story and will be updated shortly.