Nissan slashing EV costs, cuts rare materials use
TOKYO — Japanese automaker Nissan is revving up its electrification shift and slashing costs by using the same components across models and reducing use of expensive rare materials.
Nissan Motor Co. presented its “X-in-1” development strategy this month, in which the X stands for various powertrain parts such as an electric motor and inverter that can be used across models. The company said development and manufacturing costs will be reduced by 30% in 2026 compared to 2019 levels.
The Yokohama-based automaker was a pioneer in electric vehicles, but rivals like Tesla and BYD of China have overtaken it. As the move toward ecological models gains momentum around the world, Nissan has been eager to showcase its prowess.
Its senior vice president, Toshihiro Hirai, acknowledged that prices of rare earths and other materials needed to make electric vehicle batteries and other parts are expected to rise in coming years. That means automakers must have a solid strategy for obtaining raw materials if they hope to succeed in electrification.
“We make the most of our expertise and know-how from our more than a decadelong development and production of electrified technologies,” Hirai said.
Nissan, which also makes the March subcompact and Infiniti luxury models, is working on solid-state battery technology for EVs, a move that, if successful, is expected to radically reduce costs.
By 2030, Nissan’s EV offerings will cost about the same at dealers as the equivalent regular gasoline-engine models, Hirai said.