Nissan Racing To Attain EV Milestone: Announces EV Version Of Popular Models & More

Nissan Motor Co Ltd NSANY announced that all three models made at its U.K. plant will be 100% electric.

Nissan disclosed two new electric vehicle (EVs) models, which will be created at its EV36Zero hub in the Sunderland plant in the U.K.

Notably, the automaker is creating electric versions of its two flagship crossover models - Qashqai and JUKE.

The investment includes spending up to £1.12 billion for R&D and manufacturing of these two new models, which follows the £423 million investment announced by Nissan in the first phase of EV36Zero for the first future EV.

With the announcement, the EV36Zero hub will comprise an investment of up to £3 billion for three EVs (including the replacement for Nissan LEAF) and three gigafactories.

U.K. Prime Minister Rishi Sunak said, "Nissan's investment is a massive vote of confidence in the UK's automotive industry, which already contributes a massive £71 billion a year to our economy. This venture will no doubt secure Sunderland's future as the UK's Silicon Valley for electric vehicle innovation and manufacturing."

Also Read: Nissan Boosts US Worker Wages By 10% Following UAW Deals: Report

"The EV36Zero project puts our Sunderland plant, Britain’s biggest ever car factory, at the heart of our future vision. It means our UK team will be designing, engineering and manufacturing the vehicles of the future, driving us towards an all-electric future for Nissan in Europe,” commented President and CEO Makoto Uchida.

This announcement is at par with the company's expectation of its passenger car line-up in Europe to be 100% electric by 2030, aiming to launch 27 electrified vehicles, including 19 EVs, by 2030.

Read: French Automobile Manufacturer Renault Trims Holding In Nissan To 15% After Transferring Shares To French Trust

Price Action: NSANY shares closed higher by 0.25% at $7.91 on the last check Wednesday.

Photo Via Company