Nissan investing in electric vehicles, battery development

nissan plant

Nissan is investing 2 trillion yen, or nearly $18 billion, over the next five years and developing a cheaper, more powerful battery to boost its electric vehicle lineup. 

The Japanese automaker's chief executive, Makoto Uchida, said 15 new electric vehicles will be available by fiscal 2030. 

He is aiming for a 50% ``electrification'' of the company's models, under what he called the ``Nissan Ambition 2030'' long-term plan. 

He says the effort is focused mainly on electric vehicles to cut emissions and meet various customers' needs, but Nissan also will reduce carbon emissions at its factories.