Renault, Nissan CEO Sees Big Demand for Electric Cars by 2011

Filed under: Products and Services, Competitive Strategy, Toyota Motor Corp. (TM), Nissan Motors (NSANY)

Carlos Ghosn, chief executive of Renault (RNSDF) and Nissan (NSANY), is looking for a boom in electric car sales by 2011. Speaking at the Geneva Motor Show, Ghosn said: "From everything I'm seeing, in 2011 or 2012 we're going to have to rush to build capacity for both batteries and cars."

Renault and Nissan are installing enough capacity to build 150,000 cars in Japan, 200,000 in Europe and 200,000 in the U.S. They are plunging headlong into the market, claiming to be the first companies to build and sell fully powered electric cars.

Unlike hybrids, such as Toyota's (TM) Prius, electric cars do not have an engine to keep them running when their power runs out.

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Renault, Nissan CEO Sees Big Demand for Electric Cars by 2011 originally appeared on BloggingStocks on Wed, 03 Mar 2010 18:00:00 EST. Please see our terms for use of feeds.

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