Nissan plans to spend $17.6 billion on battery-powered vehicles over 5 years

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Tokyo- Nissan Motor Company 7201,
-4.66%
On Monday it said it planned to spend $17.6 billion over the next five years as part of a plan to add 20 new battery-powered vehicles to its lineup.

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The company hopes to reclaim some of the prominence it previously held in the electric-vehicle race following the pioneering introduction of the Leaf EV more than a decade ago. Investors have boosted share prices Car companies betting big on EVsIn which Tesla Inc. Relative newcomers to the TSLA include,
-3.05%,
and industry giants like Ford Motor Company F,
-2.47%
and Volkswagen AG VOW,
-3.58%,

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Nissan said some of those 20 new vehicles would be entirely battery-powered, like the Leaf, while others would be gasoline-electric hybrids. It did not say what proportion would be pure electric vehicles.

In its strategy released Monday, Nissan said that by 2030, half of its vehicles sold will be at least partially battery-powered. it matches the same goals set by rivals Earlier this year in the US and Europe.

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An expanded version of this report appears on WSJ.com.

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