Nissan is seeking to drive more profitability over the medium-term through a newly announced plan.
The automaker on Monday announced its business plan dubbed "The Arc," saying the initiative "focused on a broad-based product offensive, increased electrification, new approaches to engineering and manufacturing, the adoption of new technologies, and the use of strategic partnerships to increase global unit sales and improve profitability."
Under the plan, Nissan said 30 new models would hit the market in the next three years. Those new offerings will consist of 16 EVs and 14 internal combustion engine (ICE) vehicles.
That effort will help the automaker boost its global unit sales by 1 million from its fiscal year 2023 level before the start of fiscal year 2027. Increasing its number of vehicle sales in major markets and practicing "financial discipline" will also play a role, according to Nissan.
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Nissan aims to make the cost of its EVs on par with its ICEs by fiscal year 2030 through strategies like developing them in "families" and incorporating various manufacturing and technology innovations.
The company will also refresh 60% of its ICE models by fiscal year 2026 as part of the new business plan, Nissan said.
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Nissan has plans to lean into its existing relationships, such as the ones it has with Renault and Mitsubishi. It will also look for other potential collaboration opportunities in Japan and the U.S.
CEO Makoto Uchida said the automaker is "confident that it has what it takes to properly execute this plan, which will provide us with the firm foundation we need to bridge to our Nissan Ambition 2030 vision."
The company has said its "Nissan Ambition 2030" initiative is key to achieving "carbon neutrality across the company’s operations and the life cycle of its products" by halfway through the decade.
