New target

Nissan announced its new target that 98% of new sales in Europe will be electric vehicles by March, 2026. Formerly, the Japanese automotive giant shared its target as 75% by the same timeline. Therefore, this change implies that Nissan’s almost every new vehicle in Europe will be an EV in the near future.

As of the end of February 2023, there are three big automotive markets. They are Europe, China and the US. In this sense, most of big automotive companies are thinking of how to sell their cars in these regions. For example, General Motors decided to withdraw the European market and are focusing on its home market (US) and China.

However, among these three markets, there is a big change. It is the speed of electrification. China is the biggest automotive market and its electrification is the fastest. Furthermore, the European automotive market is accelerating electrification. In fact, the number of new sales of EVs in Europe in 2022 was 1.53 million. This number is increased by 29% compared to 2021. The new sales of EVs accounts for 15% of all of new vehicle sales.

Therefore, how to adapt this rapid change is an important question for automotive companies. If an automotive company has strong presence in Europe or wants to penetrate there, it must take action now. That is why Nissan renewed its target.

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