autoevolution
Car video reviews:
 

Nissan Invests $500 Million in Mississippi To Build New EVs

After making a buzz at the 2022 Chicago Auto Show, Nissan is making yet another move aiming at the North American Market. The Japanese automaker announced on Thursday that it plans to build two all-electric vehicles for the U.S. market.
Nissan Intelligent factory 14 photos
Nissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent FactoryNissan Intelligent Factory
Nissan plans to invest about $500 million into its Canton Mississippi plant. The Japanese automaker said it would develop two new electric vehicles under the Nissan and Infiniti nameplate. The production of these new BEVs will begin in 2025, Reuters reported.

The carmaker is looking to increase the sale of its electric vehicles in the U.S. to 40% by 2030. It has set aside an $18 billion plan for its global electric fleet.

Competition in the U.S. EV market is building up, and Nissan is not the only automaker salivating over the lucrative American EV pie. Ford, GM, Volkswagen, and Toyota have invested billions in catching up to the market leader, Tesla.

Ashwani Gupta, Nissan's Chief Operating Officer, said that the announcement is the beginning of several new investments that will drive the electric revolution in the United States.

Apart from unveiling new products for the U.S. market, automakers are also working to amass sufficient battery supply. Tesla Motors just signed a 5-year agreement with a lithium mining company in Australia to secure the rare ore and stay ahead of the game.

Last year, Nissan reported signs of profit on their July-September quarter revenue reports. The automaker recuperated from losses made earlier in the year and prior. The automakers stock is up about 9.5% year-to-date in Japan, after dipping less than 1% in 2021.

Mississippi Governor Tate Reeves praised the automaker's investment and said Mississippi residents had put their state at the forefront of the world's automotive industry for nearly two decades. He added that the decision by Nissan to produce EVs in Canton further positions the state as a leader in the growing sector.

According to Gupta, the automaker will repurpose its Canton assembly lines to develop ICEs and EVs and a battery pack assembly.

 
 
 
 
 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories