What's happened
Japanese automakers Nissan and Honda are ramping up their efforts in the electric vehicle market. Nissan will use gigacasting to manufacture EV parts, aiming to cut costs by 10% by fiscal 2030. Honda plans to launch 6 next-gen EV models in China by 2027, with a goal for EVs to make up 100% of its sales in China by 2035. Nissan also aims to mass produce EVs with advanced next-gen batteries by early 2029.
Why it matters
The shift towards EVs by Japanese automakers like Nissan and Honda is significant as they aim to compete with global rivals and increase market share. This move is crucial in reducing manufacturing costs, overcoming hurdles to EV adoption, and staying competitive in the growing EV market. The adoption of gigacasting and next-gen batteries signals a commitment to innovation and sustainability, with potential long-term impacts on the automotive industry and the environment.
What the papers say
The Japan Times reports on Nissan's adoption of gigacasting for EVs, highlighting the cost-cutting benefits and the company's strategy to achieve cost parity with combustion-engine vehicles. The Independent focuses on Nissan's plans to mass produce EVs with next-gen batteries, emphasizing the potential of solid-state batteries to revolutionize the EV sector. Both sources underscore the importance of Japanese automakers catching up with global competitors and the significance of these innovations for the future of electric vehicles.
How we got here
Japanese automakers like Nissan and Honda have been lagging behind global rivals in the EV market, facing challenges in cost competitiveness and market share. The emergence of companies like Tesla and BYD has put pressure on traditional automakers to innovate and invest in EV technology. Nissan and Honda's recent announcements reflect a strategic shift towards EVs to stay relevant in the changing automotive landscape and meet the growing demand for sustainable transportation.
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The Nissan Motor Company, Ltd. trading as the Nissan Motor Corporation and usually shortened to Nissan, is a Japanese multinational automobile manufacturer headquartered in Nishi-ku, Yokohama.