Nissan Brings Tesla to China's Electric Car Market

Nissan introduced the first of its new electric vehicles as part of a loss business response strategy. The Japanese automaker hopes its new Ariya all-electric sports utility vehicle (SUV) will sell well in China. But it faces stiff competition from Tesla, which has a strong presence in the world's largest auto market. Electric cars are the cornerstone of Nissan's four-year plan to return it to profitability. The Ariya was launched online Wednesday from the company's headquarters in Yokohama, Japan. Nissan CEO Makoto Uchida called the all-electric SUV "the flagship of the new Nissan." By 2023, Nissan plans to launch more than eight new electric models and sees China as a core market. The Chinese government offers generous incentives to electric car buyers below a certain price.