Nissan has revealed its new all-electric sports utility vehicle (SUV), the Ariya, as part of a turnaround strategy aimed at returning the loss-making Japanese carmaker to profitability. The Ariya was launched online from Nissan's headquarters in Yokohama, with chief executive Makoto Uchida calling it the 'flagship of the new Nissan'.
The company sees China as a core market for its electric vehicle (EV) expansion, planning to launch more than eight new electric models by 2023. However, it faces stiff competition from Tesla, which became the best-selling new energy vehicle in China in May and is expanding its Shanghai Gigafactory to produce more Model Y SUVs.
Nissan was an early EV leader with its Leaf model launched in 2010, but analysts say it has lost momentum. The Ariya aims to rebuild the brand, though experts note Tesla currently holds the EV cachet. The Chinese government offers generous incentives for electric cars below a certain price, boosting the market where over 20 million cars were sold in 2019.
Nissan reported an operating loss of 40.5 billion yen ($380m) for the year ending March 2020, its worst performance since the 2009 financial crisis. The brand has also been affected by the controversial departure of former chairman Carlos Ghosn. As part of restructuring, Nissan will close its Barcelona factory at the end of 2020 but keep its UK plant open.
