Every new Nissan model launched in Europe will be fully electric

investing.com:

Japan’s Nissan (OTC:NSANY) Motor (TYO:7201) announced Monday that all new models launched in Europe from this point on will be fully electric, with plans to sell only EVs on the continent by 2030.

«There is no turning back now,» Said CEO Makoto Uchida in a statement. «Nissan will make the switch to full electric by 2030 in Europe — we believe it is the right thing to do for our business, our customers and for the planet.»

Nissan revealed that it will manufacture one of the two new electric vehicle (EV) models confirmed for the European market at its Sunderland plant in northern England.

Earlier this year, Nissan increased its targets for EV models as it seeks to catch up in a market segment dominated by newcomers like Tesla (NASDAQ:TSLA). The company now plans to introduce 19 new EV models by the year 2030.

Nissan had previously stated that by the end of its fiscal year in 2026, which concludes on March 31, 2027, 98% of its sales in Europe would be electrified. This includes fully-electric cars as well as hybrid vehicles, which combine a large battery with a combustion engine.

The new objective of achieving full electrification in Europe by the year 2030 aligns Nissan with its alliance partner, Renault (EPA:RENA), which also aims to transition the Renault brand to be entirely electric by that time.

Ford (NYSE:F) and Stellantis (NYSE:STLA) have similar plans to achieve full electrification in Europe by 2030, while Volvo (OTC:VLVLY) has set a global goal to exclusively sell EVs by 2030.