Nissan lays out $17.6 billion plan to electrify its future

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Nissan is the latest company to announce a plan to spend a lot of money on electric vehicles. The company said it will spend 2 trillion dollars over the next five years to accelerate the roll-out of electric vehicles. Nissan unveiled a pack of EV concepts, including an adorable pickup truck, an outdoorsy SUV, and a sleek sports car.

Nissan did not make the same promise that other manufacturers have to phase out the production of gas-powered vehicles. Volvo and General GM will become EV-only companies in the next two decades.

Nissan will produce 23 new electric models by the year 2030. The company wants to have a 50 percent mix of electric and plug-in hybrid vehicles by the end of the decade. Nissan plans to sell 40 percent of its cars in the US to be electric by the year 2040.

Nissan is working on all-solid-state batteries. A pilot plant is being prepared in Yokohama, Japan. Solid-state batteries could theoretically charge faster, hold more power, and last longer than traditional Li-ion batteries, which use liquid electrolytes to move energy around. Some companies claim that a breakthrough is near in the field of solid-state batteries.

Nissan says that the price of battery packs will be reduced to $75 per kWh by the year 2028. To achieve cost parity between EV and gasoline vehicles in the future, the company wants to bring it down to $65 per kWh.

Nissan revealed a number of EV concepts, including a small pickup truck called Surf- Out, a small SUV called Hang- Out, and a convertible sports car called Max- Out.

Nissan didn't give any details about the future, but the Chill- Out concept SUV seems to be close to production. It looks similar to the Ariya but uses a smaller platform, so it will probably be cheaper than the Ariya.

The Max- Out is the sportiest concept, with a low-slung stance and emphasis on speed and performance. Nissan says that it will include a steering response that is balanced with limited body roll to maximize driver and passenger comfort.

The Hang- Out is a space that is both personal and mobility, with a lounge-like interior. The front and rear of the vehicle have a flat floor. The Nissan e-4ORCE all-wheel-drive setup and ProPilot driver assistance technologies are included.

The Surf- Out is the most unique of the bunch, with a minimalist interior and rear lighting scheme that is unique. Nissan says the pickup will have off-road capabilities.

Nissan has been a leader in electric vehicle sales, despite only having one EV on the market. The Ariya was unveiled against the backdrop of corporate turmoil, executive turnover, and falling sales at Nissan.