Nissan is considering an investment into electric power-train startup Hercules Electric Vehicles based out of Detroit, Michigan. Its main motivation for considering the move is its Titan range of pickups which has been long overdue for an electrification, so to speak.
Besides an outright acquisition, Nissan is also considering a less drastic but still consequential strategic investment into HEV meant to commence a multi-year technological partnership, industry sources have said this week. Nissan currently faces fierce competition from a number of unicorn startups looking to redefine the electric pickup of not just the future, but the present, as well.
The likes of Ford, Amazon, Nikola, Tesla, and others have been pursuing battery-powered pickups for years by now. Granted, not many of them have a lot to show for their efforts just yet, but Nissan is hardly in a great position to innovate in this or any other segment of the turbulent car industry.
Ultimately, the idea is to revitalize Titan’s plummeting momentum. The sales of the company’s flagship pickup range in the U.S. fell 38% amid this year’s economic uncertainty affecting pretty much every industry on the planet, especially one as non-essential as pickups – no matter what the aficionados of this vehicle class will tell you.