Japanese legacy automakers Nissan and Mitsubishi have partnered to co-develop an electric pickup model as they seek to catch up in the rapidly growing electric vehicle market in the US.
Partnership details
Nissan Chief Executive Makoto Uchida announced this week the Japanese automaker’s plans to compete in the US market, Automotive News reported.
Nissan plans to roll out its first-ever plug-in hybrid electric vehicle offering in the country with the help of Mitsubishi’s system. Meanwhile, Mitsubishi will deliver its inaugural North American-built electric vehicle with Nissan’s electric technology and expertise.
Apart from these, the two Japanese companies aim to co-develop an electric pickup truck. The yet-to-be-announced model will reportedly undergo production in Mexico and sell in the US. They also explore the potential of developing a plug-in hybrid variant for the model.
Some reports suggest that the upcoming electric pickup will be the electric counterpart of Nissan’s most popular pickup truck, the Frontier.
Nissan Chief Planning Officer Ivan Espinosa disclosed that the companies expect the new electric pickup to hit the market between March 31, 2027, and March 31, 3031.
Nissan’s electrification push
The partnership with Mitsubishi came just after Nissan confirmed its partnership with another Japanese automaker, Honda. These partnerships highlight their effort to compete against electric automakers after falling behind as the market shifts to electric vehicles.
As EV-a2z reported, Nissan and Honda signed an MoU to conduct a feasibility study of a strategic partnership for electric vehicle and software development. They aim to explore new software platforms, components, and other key technologies to challenge the Chinese onslaught.
In hindsight, Nissan pioneered electric vehicle technology by introducing the Leaf hatchback in 2010. Therefore, all these partnership efforts are part of the company’s strategy to revive its once-leading position.
Nissan’s Arch business plan
Nissan recently announced its new “Arc” business strategy, which includes plans to cut costs and challenge industry leaders like Tesla and BYD.
“The auto industry is now being forced to reshape its values, so we can say continuous change is the new normal. Nissan must change. We cannot succeed if we continue along the same path.”
Chief Executive Makoto Uchida told reporters Monday
The Japanese automaker plans to develop more powerful but affordable batteries to address range anxiety among customers. It also seeks to cut production costs to drive down electric vehicle prices to match gas-powered cars.
Nissan aims to roll out 34 electrified vehicle models across all segments this year through 2030. It also targets electrified vehicles to account for 40% of its global vehicle sales by 2026 and 60% by the end of the decade.
