Nissan: New business plan "The Arc," cutting cost of next-generation EVs by 30%

Mitsubishi rolls out new models such as Triton from ASEAN to global markets

2024/05/28

Table of contents

Summary
Nissan: Announced new business plan "The Arc”
"The Arc" mid-term initiatives (FY2024 - FY2026)
"The Arc" mid- to long-term initiatives (- FY2030)
Nissan's business performance: Net sales of JPY 13.6 trillion (up 7.2%) and operating income of JPY 600 billion (up 5.5%) are projected for FY2024
Mitsubishi: Global deployment of Triton and Exforce launched in FY2023
Mitsubishi Motors's business performance: Net sales of JPY 2.88 trillion (up 3.2%) and operating income of JPY 190 billion (up 5.5%) are projected for FY2024

Summary

Nissan unveiled new energy vehicle (NEV) concept cars at the Auto China 2024 motor show in Beijing (Source: Nissan)

This report focuses on the initiatives of Nissan Motor Co. Ltd. (Nissan) and Mitsubishi Motors Corporation (Mitsubishi Motors) over the past year.

Nissan announced its new business plan, "The Arc," in March 2024. The plan will serve as a bridge between the "Nissan NEXT" business transformation plan implemented from fiscal year (FY) 2020 to FY2023 and its "Nissan Ambition 2030" long-term vision.

“The Arc" consists of mid-term initiatives from FY2024 to FY2026 and mid- to long-term initiatives through 2030.

Mid-term initiatives include expanding annual sales by 1 million units by FY2026 through strategies optimized for each region, and preparing to accelerate the transition to EVs while introducing a balanced portfolio of electrified (xEV) and ICE vehicles.

In the mid- to long-term, the goal is to transition to EVs and achieve long-term profitable growth through smart partnerships, increased EV competitiveness, differentiation through innovation, and new sales opportunities.

To strengthen the competitiveness of EVs, Nissan will take a new approach to make EVs affordable and profitable. Through EV family development, powertrain integration, next-generation modular production, group sourcing, and battery innovation, the company aims to reduce the cost of next-generation EVs by 30% (compared to the current Aria) to achieve cost-parity between EV and ICE models ICE vehicles by FY2030.

In March 2023, Mitsubishi Motors Corporation (MMC) announced "Challenge 2025," its new mid-term business transformation plan for the period FY2023 to FY2025. The company plans to introduce 16 models, including 9 electrified vehicles, over a 5-year period starting in FY2023.

In 2023, two models supplied by Renault on an OEM consignment production basis, the ASX compact SUV in March and the new Colt compact hatchback, were launched in the European market in October. The new Triton and the new Exforce compact SUV will be launched in the second half of 2023. With the addition of the Expander HEV, the company is broadening its territory from ASEAN to the global market.

This report is for paid members only.

If you register as a free member, you can read the rest of this article for a limited time.
In addition, you can also enjoy the following content for free:

Market & Tech Reports

Global automotive production/sales

Launch schedule forecasts