Nissan’s $700 million investment in Electric Car Project

Car manufacturer Nissan will invest almost $700 million in two plants to make batteries for electric cars in Britain and Portugal after securing financial support from their governments.

Automakers around the world are exploring plans for mass electric car production as the industry seeks to haul itself out a devastating downturn.

The Nissan news comes less than a week after Toyota said it would produce its first European-built hybrid car in Britain from 2010. Nissan will invest more than £200 million ($328.6 million) in the plant near Sunderland, north east England.

Acc to Nissan,

“The two governments (UK and Portugal) have offered to extend financial assistance and other support to ensure that Nissan locates the proposed plants within their respective countries”

0808_03_z nissan_cube_electric_vehicle_prototype front_three_quarter_view Nissan’s Electric Vehicle Prototype

[Source – Reuters]

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