Nissan Motor Co., Ltd NSANY announced plans to introduce 30 new models by fiscal 2026, targeting a global sales increase of 1 million vehicles with improved profitability and electrification.
Of the 30 new models, 16 will be electrified, with a goal to reduce the cost of EVs by 30% by 2030.
Targets include achieving an operating profit margin exceeding 6% and total shareholder returns surpassing 30% by the same period, as outlined in the updated medium-term business plan.
The new plan is split into mid-term imperatives for fiscal years 2024 through 2026 and mid-long-term actions to be carried out through 2030.
The company plans to refresh 60% of internal combustion engine (ICE) passenger-vehicle models by fiscal year 2026.
Nissan has also proposed to cut the cost of next-generation EVs by 30% and achieve EV and ICE vehicle cost parity by fiscal year 2030.
The company plans to invest more than ¥400 billion yen in battery capacity and investment in electrification will increase progressively, becoming more than 70% by fiscal year 2026.
“The Arc plan shows our path to the future. It illustrates our continuous progression and ability to navigate changing market conditions. This plan will enable us to go further and faster in driving value and competitiveness,” said President and CEO Makoto Uchida.
The new business plan is expected to unlock a potential ¥2.5 trillion in additional revenues by fiscal year 2030.
Price Action: NSANY shares closed higher by 2.18% at $8.45 on Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by michelmond on Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
