Nissan Motor, the Japanese automaker, has announced that it is refocusing its company toward its Nissan EV products. The company will continue to produce gas vehicles in the United States in limited quantities but is already taking steps to fully sunset its gas vehicles. Some of these steps include stopping the production of gas-powered engines in Europe, and announcing its 'Nissan Future' collection of electric vehicles.
In addition to these steps, the automaker has also announced its intentions to repurpose some of its gas-vehicle production factories into electric vehicle production factories. However, Nissan will continue to produce hybrid vehicles in Europe and Asia for the time being. The company believes that electric vehicles are the standard of the future, and whether it be through market pressure or government regulations, gas vehicles will become less profitable and more unfeasible.
Lastly, this new initiative for Nissan also means that, going forward, the annual research and development budget from the company will lean much more in favor of electric vehicles and sustainable technologies than before.
Image Credit: Nissan
Key Themes Behind This Trend
- Electric Vehicle Production
- Nissan's refocusing on EVs and repurposing current factories for electric production opens up opportunities in electric vehicle parts manufacturing and charging infrastructure.
- Sustainable Research and Development
- By leaning more towards sustainable technologies in R&D, there are opportunities to develop new environmentally-friendly materials and technologies.
- Hybrid Vehicle Production
- Nissan's continued production of hybrid vehicles in Europe and Asia creates opportunities in hybrid vehicle manufacturing and parts production.
Where This Applies
- Automotive Manufacturing
- Nissan's shift towards electric and hybrid vehicles creates opportunities for manufacturers to provide tools and equipment geared towards electric and hybrid vehicle production.
- Electric Vehicle Parts Manufacturing
- Nissan's focus on electric vehicles and repurposing factories into EV production creates opportunities for parts manufacturers that specialize in electric vehicle components.
- Charging Infrastructure
- The shift towards electric vehicles means there is an opportunity for companies to develop and implement better charging infrastructure to support the growing electric vehicle market.
