Nissan Motor unveiled four new electric vehicle (EV) models at China’s largest auto show and vowed to build more EV products “in China, for China” despite intense market competition and a price war that has sent its sales tumbling over the past three years.
Highlighting China as an important market, Japan’s third-largest carmaker by output plans to roll out eight new models for the local market by 2026 through its joint venture with Dongfeng Motor,” CEO Makoto Uchida said at Auto China Show in Beijing on Thursday.
“Consumer needs in China’s car industry have gone through rapid changes in recent years, and domestic players have shifted the competition landscape,” he said. “We need to react rapidly to stay competitive,” he added when discussing Nissan’s “The Arc” business plan with a live audience in the Chinese capital.
“This shows our commitment to China as we gear up to expand and accelerate our product offering in the market,” Uchida said.
Nissan unveiled two electric concept cars and two hybrids at the motor show. It vowed to update 73 per cent of its product line-up by 2026 by introducing more EV and hybrid cars. That is expected to underpin its attempt to grow its sales in China to more than the 1 million mark by then. They fell below that level for the first time in 14 years in February.
Uchida said the company will also start exporting vehicles that it produced in China from next year, including 100,000 vehicles for phase one, Uchida said, without elaborating.on the business plan.
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‘Overtaking on a bend’: how China’s EV industry charged ahead to dominate the global market
‘Overtaking on a bend’: how China’s EV industry charged ahead to dominate the global market
Nissan separately signed a memorandum of understanding with Chinese search-engine operator Baidu to explore a strategic partnership in artificial intelligence (AI) and self-driving cars, according to a press statement.
“The auto industry is going through a shift towards autonomous driving, and consumer demand for new technologies such as AI is constantly growing,” Programme Director Masashi Matsuyama said. The partnership will allow Nissan to apply Baidu’s generative AI technologies to its cars in China, and make them smarter, he said.
The upbeat assessment came amid a Nikkei report that Nissan was considering cutting 30 per cent of its annual production capacity in China because of intensifying rivalry with Chinese producers such as BYD. Nissan currently produces about 1.6 million units, the report said.
