2:07:18 The new Nissan V-12 engine from Nissan is the latest carmaker to announce it will invest in the electric vehicle market, after a spate of new electric cars and electric charging stations have opened in the UK.
Nissan’s chief executive said on Monday the company’s investment in electric vehicles would help it to grow sales of its vehicles.
In a blog post, Nissan said it was “actively exploring the opportunities” for electrification of the company and other brands and that it planned to introduce electric vehicles at some point.
“We know the world is changing rapidly, and we have always strived to make the most of our technology and know-how to maximise our future potential,” said Nissan chief executive Carlos Ghosn.
Nissan said it planned for electric vehicles to be sold in 2019 and 2020, as well as the end of 2020.
The company has not revealed how many vehicles it expects to produce, but analysts have estimated that it will make up to 2 million vehicles.
Last year, Nissan announced that it would invest $10bn in its EV manufacturing and distribution operations.
Investment in the EV industry has been on a rapid rise in recent years.
Last month, Tesla unveiled plans to sell 100,000 vehicles by the end 2018, including its Model 3 electric car.
Tesla, however, has not disclosed the cost of its EV plans.
Last year, Ford unveiled plans for more than 5,000 electric vehicles by 2020.
Last week, General Motors announced plans to buy more than 6,000 of the cars.
And last week, Volkswagen announced that its diesel engine unit will make electric cars.
The company has said it will start producing its first electric vehicles in 2021, but has not yet said how many cars it will sell.
This story is from January 15, 2018.