Nissan to speculate $17.6 billion to ramp up electrical car providing

A Nissan electric concept car will be on display in the company’s showroom in Yokohama, Japan on November 29, 2021.

KAZUHIRO NOGI | AFP | Getty Images

Japanese automobile giant Nissan will invest 2 trillion yen (approximately $ 17.6 billion) over the next five years to accelerate the electrification of its product line.

Nissan announced on Monday that it would launch 23 new electrified models by 2030, 15 of which will be fully electric.

By the end of the decade, the company is aiming for a 50% electrification mix for its Nissan and Infiniti brands.

On the battery front, the company plans to launch all-solid-state batteries, or ASSB for short, by 2028. A pilot plant for ASSB in Yokohama, Japan, will be completed “in fiscal year 2024”, called Nissan.

In a speech outlining the plans, Nissan chief Makoto Uchida said his company is focused on ASSB’s internal development.

“This enables us to double the energy density compared to current lithium-ion batteries,” he said. “With smaller and thinner batteries, we can offer a flexible layout with more dynamic performance and expand it to larger segments like pickup trucks.”

Nissan is one of several well-known companies pursuing an electrification strategy. In March, Volvo Cars announced a “Full Electric Car Company” by 2030. Elsewhere, BMW Group By 2030, at least 50% of deliveries should be fully electric vehicles.

It comes at a time when major economies around the world are trying to reduce the environmental footprint of transport.

Read more about electric vehicles from CNBC Pro

The UK, for example, wants to stop sales of new diesel and gasoline cars and vans by 2030. From 2035, all new cars and vans will have to have zero tailpipe emissions.

Elsewhere, the European Commission, the executive branch of the EU, aims to reduce CO2 emissions from cars and vans by 100% by 2035.

Earlier this month, signatories of a statement at the COP26 climate summit said they will “work in leading markets by 2040 and no later than 2035 to ensure that all sales of new cars and vans worldwide are emission-free”.

While the US, China and the automakers including Volkswagen, Toyota and Nissan were absent from the statement, signatories included the governments of the United Kingdom, India and Canada, and automobile companies such as ford, General Motors and Volvo cars.

Speaking to CNBC’s Steve Sedgwick on Monday morning, Nissan’s Uchida said his company must be “equipped and ready.” [for] how the market for … electrification will develop. “

While charging, Uchida emphasized the importance of collaboration. “We don’t just concentrate [at] … Nissan but also in the alliance [on] how we can further … contribute to building the infrastructure with regard to the charging stations. “

Renault-Nissan-Mitsubishi is an automotive alliance founded in 1999. Mitsubishi joined the strategic partnership in 2016.

Vaccine ramp up most likely not sufficient to handle UK virus variant

An increase in vaccinations in the coming weeks alone might not be enough to curb the spread of a coronavirus variant first reported in December in the UK and now out in the US, said Scott Gottlieb, former commissioner for the Food and Drug Administration.

The emergence of variants could hamper efforts to reopen the economy in the United States, where at least 475,000 people have died from viruses, according to the country Data from Johns Hopkins University.

The UK first reported the strain known as B117 to the World Health Organization in December and now there are 971 cases in 37 US states Centers for Disease Control and Prevention.

“Right now they are shipping 11 million cans a week to the States. That will likely increase,” Gottlieb, who served as FDA chief under former President Donald Trump from 2017 to 2019, told CNBC.The news with Shepard Smith“On Thursday.” So we’re increasing the vaccination rate across the country. Well, if it will be fast enough to create a backstop against B117 – probably not by itself. “

Gottlieb said he doesn’t think travel restrictions could stop the spread of the B117 variant because it can often be too late. A “seasonal setback” in the form of the arrival of spring and summer could help reduce the spread of B117, said Gottlieb, a director of Pfizerwhose Covid vaccine is sold in the United States

He said that hopefully a combination of this and increasing vaccinations will include the variant in most parts of the country, although there may be hotspots in southern parts of California and Florida.