In a bold move towards a sustainable future, Nissan has announced its commitment to electrify its entire vehicle lineup in Europe by the year 2030. This announcement comes despite the United Kingdom’s decision to postpone its ban on the sale of new petrol and diesel cars to 2035.
Nissan’s CEO, Makoto Uchida, emphasised that this transition to electric vehicles (EVs) is “the right thing to do” for their business, customers, and the planet. The car manufacturer aims to be at the forefront of the EV revolution, setting an ambitious timeline for the complete elimination of traditional internal combustion engines in their European offerings.
One notable aspect of Nissan’s strategy is its intention to introduce new battery technology by the end of the decade. This technology is expected to significantly reduce both the charging time and cost of EVs, making them more accessible and convenient for consumers. However, Nissan did not specify when EVs would achieve price parity with petrol-powered cars.
What sets Nissan apart from many competitors is its in-house battery manufacturing capability in the UK. Last year, the company announced a substantial £1 billion investment to expand this facility, located adjacent to its Sunderland car plant, with a £100 million contribution from the government. This advantage positions Nissan favourably compared to other automakers that largely rely on battery imports from China.
Nissan’s ambitious commitment to an all-electric European lineup by 2030 is a significant step in the automotive industry’s transition towards sustainability. It reflects both the growing demand for EVs and the recognition of the urgent need to reduce carbon emissions from transportation.
In other automotive news, Air Canada has signed an agreement with Boeing to acquire 18 wide-body 787 Dreamliner jets, with an option to purchase 12 more. This move aligns with Air Canada’s efforts to capitalise on robust travel demand while deploying fuel-efficient aircraft to reduce emissions.
Meanwhile, toy giant Lego has encountered setbacks in its sustainability journey. Despite initial plans to produce bricks from recycled bottles, Lego found that this material did not reduce carbon emissions as expected. The company remains committed to seeking sustainable alternatives to its current plastic-based bricks.
Lastly, the British pound faced challenges in the currency market, hitting its lowest levels in six months against the US dollar and four months against the euro. This decline is attributed to uncertainties surrounding the Bank of England’s rate outlook, with market expectations for further rate hikes in 2023 dropping to around 40%.
