Nissan Targets 1 Million EV Sales Annually By 2022

Nissan announces it aims to sell 1 million electrified vehicles annually by fiscal year 2022.

It also will expand and evolve autonomous driving systems and accelerate vehicle connectivity as part of its 2022 midterm plan.

The automaker will develop eight new all-electric vehicles, launch an EV in China under different brands; introduce an electric “kei” mini-vehicle in Japan; offer a global crossover EV inspired by the Nissan IMx Concept; electrify new Infiniti models from fiscal year 2021; equip 20 models in 20 markets with autonomous driving technology; and reach 100% connectivity for all new Nissan, Infiniti and Datsun cars sold in key markets by the end of the plan.

Chief Planning Officer Philippe Klein says the strategy is to position Nissan to lead the automotive, technology and business evolution.

He says in a statement the midterm plan aims to boost annualized revenue 30% to ¥16.5 trillion ($154.4 billion) by the end of fiscal year 2022. The company also wants an 8% core operating profit margin and cumulative free cash flow of 2.5 trillion ($23.4 billion).

Klein pledges to leverage the platform and powertrain assets of Renault-Nissan-Mitsubishi to support the company’s goals.

Nissan this year will launch a product offensive in China led by a new C-segment EV derived from Nissan Leaf technology, he says.

The campaign also will include an affordable EV in China through the Alliance’s eGT New Energy Automotive joint venture. The Alliance and Chinese automaker Dongfeng will jointly develop this new EV on an A-segment CUV platform.

Two other EV derivatives are being prepared for the Venucia brand.

Nissan will expand its e-Power technology already offered on the Note and Serena models in Japan. More than 129,000 Note e-Power models were sold there in its first year, with more than two-thirds of customers opting for e-Power models versus the baseline Note.

Nissan expects electrified vehicles – including EVs and e-Power models – will make up 40% of company sales in Japan and Europe by 2022 and 50% by 2025. In the U.S., the expectation is 20%-30% by 2025, while in China it’s 35%-40%.

By 2025, Nissan luxury brand Infiniti expects electrified vehicles to account for 50% of its global sales.

As part of its strategy for autonomous driving systems, Nissan will deploy ProPilot technology in 20 models in 20 markets by 2022. The company expects to sell 1 million ProPilot-equipped vehicles a year by 2022. This will be followed by enhancing ProPilot to automate multilane driving on highways and managing vehicle destinations.

Senior Vice President Takao Asami says Nissan is continuing to evolve autonomous technology toward hands-free, eyes-off convenience in all environments.

“Already we have more vehicles on the road with semi-autonomous capabilities than any other automaker, and we continue to learn from this experience to bring benefits to customers,” he says.