Nissan unveils EV to take on Tesla, revive brand

Nissan has unveiled a car intended to take on Tesla.

And also give its tarnished brand a bit of a polish.

The Ariya was unveiled Wednesday (July 15) just outside Tokyo.

It’s an electric SUV aimed at the premium end of the market.

And there’s a lot riding on its four wheels.

The Ariya is Nissan’s first all-new global model for five years.

It’s a showcase, intended to demonstrate the firm can still be a leader on electric and self-driving tech.

And with a starting price of around 47,000 dollars, it’s a direct competitor to Tesla’s mid-sized Model Y SUV.

But Reuters sources say the firm only expects to sell 30,000 of the model in its first year.

One source called the target ‘underwhelming’, and questioned whether Nissan really believed in it as 'halo' model, intended to restore glamor to the brand.

At that level it may also do little for Nissan’s bottom line.

Earlier this year the carmaker reported its first quarterly loss in almost a decade.

It plans to slash jobs, close plants and cut product lines as a result.

The company says it will stop chasing market share, and hunt profits instead.

The Ariya may be both a symbol, and a test, of the new strategy.

Video Transcript

Nissan has unveiled a car intended to take on Tesla, and also give its tarnished brand a bit of a polish. The Ariya was unveiled Wednesday just outside Tokyo. It's an electric SUV aimed at the premium end of the market, and there is a lot riding on its four wheels. The Ariya is Nissan's first all-new global model for five years. It's a showcase intended to demonstrate the firm can still be a leader on electric and self-driving tech. And with a starting price of around $47,000, it's a direct competitor to Tesla's mid-sized Model Y SUV.

But Reuters sources say the firm only expects to sell 30,000 of the model in its first year. One source called the target underwhelming and questioned whether Nissan really believed in it as a halo model intended to restore glamour to the brand. At that level, the Ariya may also do little for the bottom line.

Earlier this year, the carmaker reported its first quarterly loss in almost a decade. It plans to slash jobs, close plants, and cut product lines as a result. The company says it will stop chasing market share and hunt profits instead. The Ariya may be both a symbol and a test of the new strategy.