Japan’s Nissan slashing EV costs, cuts rare materials use

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japanese automaker Nissan is revving up its electrification shift and slashing costs by using the same components across models and cutting use of expensive rare materials. The company presented its “X-in-1” development strategy, in which the X stands for various powertrain parts, such as an electric motor and inverter that can be used across models. Nissan said development and manufacturing costs will be reduced by 30% in 2026 compared to 2019 levels. The Yokohama-based automaker was a pioneer in electric vehicles but rivals like Tesla and BYD of China have overtaken it.