The grand plan will start with building a pilot production line at the Yokohama Factory, Japan in fiscal year 2024. After that, it will deliver its first all-solid-state battery electric vehicle in 2028.
The all-solid-state battery itself is far superior to lithium-ion batteries in specifications. These batteries charge faster, hold more power, and last longer.
It said all-solid-state batteries could reduce the price of battery packs to $75 per kWh by 2028 and eventually to $65 per kWh. Batteries will help make EVs much more affordable and ultimately match the price of engine cars.
Nissan said it had spent $17.6 billion to develop an all-solid-state battery. The company will compete with other car manufacturers in presenting this advanced battery.
An all-solid-state battery is also being developed by Volkswagen-backed QuantumScape, which plans to start selling it in 2024. There’s also a Ford set to deliver it by the end of the decade.
Toyota is also known to be developing an all-solid-state battery. The development plan was announced several years ago and is expected to be completed in the near future although so far there has been no sign of success.