Nissan plans to spend $17.6 billion on battery-powered cars over 5 years

TOKYO— Nissan Motor Co.
7201,
-4.48%

said on Monday that it plans to spend $17.6 billion over the next five years as part of a plan to add 20 new battery-powered vehicles to its product line.

The company hopes to recapture some of the highlights it previously held in electric car racing after pioneering the introduction of the Leaf EV more than a decade ago. Investors boosted the share price of car companies are betting big on electric cars, including relative newcomers like Tesla Inc.
TSLA,
-3.05%,
and successful industry players like Ford Motor Co.
NS,
-2.47%

and Volkswagen AG
VOW,
-3.58%.