Nissan is betting on ‘China speed’ to get back on its feet

Nissan accelerates its China revival plan, targeting 1 million annual sales by 2030 amid fierce competition from local EV makers. | Contesto: cronaca

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• Nissan is betting on ‘China speed’ to get back on its feet

Contesto

Nissan is pushing ahead with an ambitious growth plan for China that aims to lift its annual sales to 1 million vehicles by the end of the decade, the Japanese automaker announced Tuesday. The strategy, dubbed 'China speed,' marks a critical bet on the world’s largest auto market as Nissan struggles to recover from declining global sales and financial losses. The plan focuses on accelerating product development and tailoring electric vehicles specifically for Chinese consumers. The move comes as Nissan faces mounting pressure from domestic Chinese brands such as BYD and Nio, which have rapidly gained market share in the electric vehicle segment. China accounted for roughly a third of Nissan’s global sales in recent years, but that share has slipped as local competitors offer more affordable, feature-rich EVs. By 2026, Nissan plans to launch several new models designed in China for the local market, including battery-electric and plug-in hybrid vehicles. Under the 'China speed' initiative, Nissan aims to cut vehicle development time by as much as half, from the typical 48 months to around 24 months, by leveraging local engineering and supply chain partnerships. The company has already opened a new design center in Shanghai and expanded its research and development footprint in the country. Executives have emphasized that the Chinese market’s rapid pace of innovation requires a fundamentally different approach from Nissan’s traditional global model. The sales target of 1 million vehicles by 2030 represents a significant increase from Nissan’s current annual sales in China, which have hovered around 800,000 units in recent years. However, the goal remains below the company’s peak of 1.6 million units sold in China in 2018, before the pandemic and intensifying competition eroded its position. Nissan’s global sales fell to 3.3 million vehicles in the fiscal year ended March 2024, down from 4 million a year earlier. Industry analysts caution that Nissan’s turnaround in China faces steep hurdles, including a price war among EV makers, shifting consumer preferences, and potential trade tensions between Japan and China. The company’s reliance on its e-Power hybrid...

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Categoria: cronaca