The electric car market is moving faster than anticipated, with the emergence of low-cost EVs from China serving as a wake-up call for traditional car manufacturers like Nissan. As a result, Nissan is reassessing its development plans and exploring ways to make its EVs more affordable.

During the Tokyo Motor Show, Nissan CEO Makoto Uchida acknowledged that EVs are becoming more affordable at a much faster rate than predicted, thanks in large part to the acceleration fueled by Chinese market developments. Uchida stated that discussions on pricing and affordability of EVs are ongoing within the company.

While there is no specific timeline for Nissan to reduce its EV prices, Uchida confirmed that the company has a plan in place. He emphasized the importance of ensuring Nissan’s cars offer good value for money rather than simply producing smaller and cheaper EVs.

Uchida refrained from commenting on whether governments should introduce tariffs on Chinese cars to promote fair competition with locally produced models. Instead, he stressed the need for Nissan to adapt its approach to EV development in order to remain competitive in each market.

China’s progress in the EV market has served as a wake-up call for Nissan, compelling the company to overhaul its development strategies and accelerate the introduction of new technologies and models to keep pace.