Nissan needs to ‘clean out the closet’ to turn around falling sales with new EVs
Nissan’s CEO needs to clean out his closet, according to his wife. The same goes for the 90-year-old automaker as it transitions to a new era. Nissan is gearing up to reveal a new EV plan as part of a midterm update to turn things around.
Amid falling sales, Nissan’s CEO, Makota Uchida, is taking advice from his wife. The Japanese business leader wants to reinvent the company to compete in the modern era.
Uchida’s wife said his old clothes were taking up space and long out of fashion, much like Nissan’s lineup. His wife added that the space could be better used.
Nissan’s CEO told his wife, “Yes, you’re right,” in an interview with Automotive News, “But I like them.” He added, “It’s the same thing for the company. The tendency is to hang on to all that old legacy.”
The Japanese automaker, once viewed as an EV pioneer with the release of the LEAF in 2010, has fallen behind as the industry moves toward electric.
Uchida added, referring to outdated clothes, “But is it going to fit you in the future or make you more handsome in the future? No way.”
“We cannot continue old ways of business from the past into the future,” Nissan’s leader explained. Uchida asked, “How do we make ourselves efficient enough to be competitive against those new, fast, agile companies?”
EV leaders like Tesla and BYD are launching new models in key segments as adoption continues climbing.
Nissan to reveal new EV plan amid falling sales
Uchida aims to reveal a new midterm strategy by the end of March. The new plan will outline Nissan’s next three years, including a longer-term update.
According to AN, the update will address how Nissan plans to be more competitive with EVs, rivaling low-cost models from China and improving network efficiency.
Despite the launch of its first EV in over a decade, Nissan’s global EV sales slipped to 127,953 through November of last year, down from 128,194 in 2022.
In comparison, Tesla handed over a record 1.81 million EVs last year, up 38% from 2022. Production was also up 35%.
BYD, which topped Tesla as the global EV leader in Q4, can launch a new car from scratch to finish in 18 months. Most automakers take around four years. The automaker builds nearly every component in-house. For example, all the parts on the Dolphin electric hatch, other than the tires and windows, are built by BYD.
Uchida said, “Moving forward, how can we make this horizontal way of business competitive?” He believes it involves working with suppliers.
Nissan began delivering the Ariya electric SUV in Japan in May 2022, with it hitting the US later that fall.
The Japanese automaker sold 13,464 Ariya EVs in the US last year. Despite this, sales of the decade-old LEAF continue to fall. Nissan sold 7,152 LEAFs in the US last year, down from over 12K in 2022 and 14K in 2021.
Nissan’s leader said the automaker remains committed to the affordable segment but needs a better balance.
Electrek’s Take
Although Nissan’s total US sales were up 23% last year, they have yet to top the 1 million mark since 2019.
To keep up, Nissan plans to reveal a new LEAF model sometime this year. The new Nissan LEAF will look more like a crossover coupe SUV to better compete with rivals. According to one Nissan source, it will be closer to the Ariya in design, calling it a “mini-Ariya.”
Nissan aims to launch 19 new EVs by 2030, but that could change with the new EV plan. Although Ariya production is finally picking up, Nissan needs (at least) another model to complement the electric SUV.
If Nissan can launch the next-gen EV at the right price, it could help spark momentum. Nissan is known as a low-cost automaker. Transitioning from that could risk falling further behind rivals like Hyundai, Kia, Volvo, etc.
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Environment
Baidu- and Geely-backed JiYue brand unveils ROBO X EV that goes 0-100 km/h in under 1.9 sec
JiYue, a Chinese EV brand focused on delivering all-electric “robocars” to the masses, has unveiled its latest model, and it’s quite a deviation from its previous EVs—but in the best way. Earlier today, JiYue launched the ROBO X supercar, designed for high-speed racing. By high speed, we mean 0-100 km/h acceleration in under 1.9 seconds. My mouth is watering.
JiYue has only existed since 2021, when parent tech company Baidu announced it was expanding from software development into physical EV production, joining forces with multinational automotive manufacturer Geely.
The new “robotic EV” marque initially launched as JIDU with $300 million in startup capital before garnering an additional $400 million in Series A funding, led by Baidu, in January 2022.
In August 2023, Geely took on a larger role in JIDU alongside a greater financial stake as the brand reimagined itself as JiYue, inheriting the JIDU logo and its flagship model, the 01 ROBOCAR.
In December 2023, Baidu and Geely unveiled a second model called the JiYue 07. It was born from JIDU’s ROBO-02 concept, which debuted in 2023 and was designed to compete against the Tesla Model 3 in China.
The 07 finally launched in China earlier this year with 545 miles of range. With an all-electric SUV and sedan on the market, JiYue has unveiled an exciting new entry in the form of a performance supercar called the ROBO X. Check it out:
JiYue’s new ROBO X EV is available for pre-order now
JiYue showcased its new ROBO X hypercar in front of the crowd at the 2024 Guangzhou Auto Show earlier today. Similar to previous models but with a unique spin, JiYue described the ROBO X as an AI smart-driving supercar that, for the first time, blends artificial intelligence and autonomous driving into a high-performance, race-ready EV.
When we say “high performance,” we mean a quad motor liquid-cooled drive system that can propel the ROBO X from 0 to 100 km/h (0 to 62 mph) in under 1.9 seconds. JiYue called the new ROBO X a “performance beast” with “the perfect balance of excellent aerodynamic performance and high downforce.” JiYue CEO Joe Xia was even bolder in his statements about the ROBO X:
For the next 20 years, the design of supercars will bear the shadow of Robo X. This is the best design in the history of Chinese automobiles today, and it is a landmark presence.
Fighter-style airflow ducts bolster the EV’s aerodynamics, efficiency, and overall posture. Per JiYue, the two-seater ROBO X is expected to deliver a maximum range of over 650 km (404 miles).
The new supercar features falcon-wing doors, a carbon fiber integrated frame, and a professional racing HALO safety system offering 360° of support. The interior features an AI smart cockpit with SIMO real-time feedback to give drivers an immersive racing experience.
Furthermore, JiYue said the vehicle will utilize parent company Baidu’s Apollo self-driving technology, which could make it the first electric supercar to apply pure-vision ADAS technology that enables track-level autonomous driving.
Following today’s unveiling of the ROBO X, JiYue has officially opened up pre-orders in China for RMB 49,999 ($6,915). That said, reservation holders will need to be patient as JiYue shared that it doesn’t expect to begin mass production of the ROBO X until 2027.
What do you think? Will people be talking about the ROBO X for the next 20 years?
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This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes the launch of the Lectric XPedition 2.0, Yamaha e-bikes pulling out of North America, LiveWire unveils an electric scooter concept, PNY readying its cargo e-scooters for pilot testing, Royal Enfield’s first electric motorcycle, and more.
The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.
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Here are a few of the articles that we will discuss during the Wheel-E podcast today:
Here’s the live stream for today’s episode starting at 9:30 a.m. ET (or the video after 10:30 a.m. ET):
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Crude oil futures were on pace Friday for loss for the week, as a supply gut and a strong dollar depresses the market.
U.S. crude oil is down more than 2% this week, while Brent has shed nearly 2%.
Here are Friday’s energy prices:
- West Texas Intermediate December contract: $68.56 per barrel, down 14 cents, or 0.2%. Year to date, U.S. crude oil has shed about 4%.
- Brent January contract: $72.36 per barrel, down 20 cents, or 0.28%. Year to date, the global benchmark has lost nearly 6%.
- RBOB Gasoline December contract: $1.99 per gallon, up 0.46%. Year to date, gasoline has fallen more than 1%.
- Natural Gas December contract: $2.70 per thousand cubic feet, down 2.98%. Year to date, gas has gained more than 4%.
The International Energy Agency has forecast a surplus of more than 1 million barrels per day in 2025 on robust production in the U.S. OPEC revised down its demand forecast for the fourth consecutive month as demand in China remains soft.
A strong dollar also hangs over the market, as the greenback has surged in the wake of President-elect Donald Trump’s election victory.
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