Recently, Nissan will receive a loan of 200 billion yen (approximately RMB 10.36 billion) for investment in electric vehicles and carbon neutrality. The loan was issued through Mizuho Bank and other lenders, with contract terms of five and seven years respectively.
Specifically, Nissan said the loan was for "investment in zero-emission vehicles." The company signed a loan agreement on November 30, arranged by Mizuho Bank, MUFG Bank and other relevant financial institutions. The contract terms are between five and seven years, and the money will be used to fund various green projects.
Nissan did not elaborate on the projects, saying only that they are defined by the Nissan Sustainable Finance Framework. This is an initiative launched by Nissan in July to better direct funds to support renewable energy and clean manufacturing systems, battery development, autonomous driving systems, electric vehicle charging infrastructure, next-generation electric vehicles and related technologies project.
The $1.4 billion loan is not a small sum of money, but Nissan is no stranger to electric vehicles. The first-generation Leaf entered the market in 2010, two years before the Tesla Model S. It was one of the first modern electric cars. As of 2019, it is the best-selling electric car in the world. Despite its early start, Nissan has declined in electric vehicles, with only a handful of hybrids accompanying the Leaf over the years. As for the Leaf, it's now surpassed by most EV competitors with better range and performance. Nissan ARIYA is the company's second all-electric vehicle launched for the mass market. It has a cruising range of up to 623 kilometers and aims to become a competitive electric crossover model.
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Editor: Zhu Yuxiang