Nissan unveils new EV designed for Chinese market

(Reuters) -Japan’s Nissan (OTC:) Motor Co Ltd on Tuesday unveiled a new electric sport-utility vehicle (SUV) at the Shanghai auto show as it highlighted its commitment to the Chinese market.

“We are bringing more electrified models, such as Ariya, e-Power Sylphy and e-Power X-Trail. We are also planning to launch an EV designed specifically for the Chinese market,” said Ashwani Gupta, Nissan’s chief operating officer, speaking at the show.

China has long been a key market for Nissan, but like other global automakers, it faces increasing pressure and the threat of declining market share from the rise of home-grown auto companies.

Gupta said the new vehicle, called the Arizon, will offer a virtual personal assistant, dubbed Eporo, and feature a low centre of gravity while lacking structural pillars, a move the company says enhances the car’s spacious interior.

“Going forward, software-defined vehicles will continue to redefine (vehicles) … making cars a more and more integrated part of our digital lifestyle,” Gupta said.

Once a pioneer in the global electric vehicle (EV) market with the Leaf, Nissan has long since ceded dominance to Tesla (NASDAQ:) Inc and has struggled in China against BYD, the country’s biggest EV player.

Nissan’s latest electric offering, the Ariya crossover, has been hampered by problems at its high-tech production line, Reuters reported last month, slowing delivery of a car that was designed to put the Japanese automaker on the road to a comeback.

The Ariya is supposed to be the first of 19 new battery EVs that Nissan has said it plans to roll out by 2030. S&P Global (NYSE:) Ratings recently cut Nissan’s debt rating to junk status, saying margins and sales volumes were unlikely to improve as quickly as previously expected.