Nissan Motor Co.’s announcement earlier this month that it will create a ¥153.5 billion ($1.4 billion) hub to manufacture electric vehicles in the United Kingdom is just the beginning as the automaker pushes ahead with plans to electrify its fleet, Chief Executive Officer Makoto Uchida has said.
The U.K. project "is a start in our electrification strategy,” Uchida said in an interview Tuesday during the Bloomberg Sustainable Business Summit. The Japanese company will look to build its EV prowess in other core markets as well, he said, declining to provide specifics on the location and timing of those investments.
Nissan is embracing electrification as a means of stirring demand for its cars as it fights to pull itself out of the red after two straight years of operating losses. Revealing Nissan’s flagship Ariya EV last year, Uchida described the vehicle as "symbolizing a new chapter” as Nissan pushes forward with an aggressive turnaround plan.