Joseph White

DETROIT, (Reuters) – Nissan Motor Co announced Thursday that it would invest $500 million in retooling its U.S. plant at Canton, Mississippi to make two new electric cars. A top executive also stated that the automaker was looking to locate a U.S. location to construct a battery factory.

Nissan (OTC) stated that it will begin assembling electric cars in Mississippi for the Infiniti and Nissan brands by 2025. Nissan (OTC:) stated that electric cars will account for 40% of the company’s U.S. revenue by 2030. Nissan plans to spend $18 billion on expanding its electric vehicle fleet worldwide through 2030.

Ashwani Gupta, Nissan’s Chief Operating Officer said that they are currently looking for the best location and timing to construct the U.S. factory. It should happen soon.

Canton is home to two Nissan assembly lines. The first builds light trucks like the Nissan Frontier while the second assembles Altima mid-sized sedans.

Gupta announced that Altima’s assembly line would be modified to make both electric and gasoline vehicles. As Nissan seeks to achieve greater vertical integration, additional space will be used in Canton for battery pack assembly as well as other operations.

Canton, a 19-year-old complex, employs approximately 5,000 workers. Nissan stated that it would retrain 2000 workers in the context of this new investment.

Gupta explained that these models will feature lightweight architectures to support battery-electric powertrains and autonomous driving technology.

He stated that upskilling employees will require significant time and money.

According to the automaker, the Mississippi investment is one of many planned in the United States over the next five-years in order to increase electric vehicle production.

Gupta suggested that Nissan’s Mexican operations need to receive additional investment in electric vehicles. Mexico “Obviously” will also be involved.

According to him, Nissan has been investing in electric vehicles because markets have become ready. “We’re not looking for big bucks.”

Nissan plans to produce 23 electrified cars globally by 2030. This includes 15 electric models.

Nissan’s compact Leaf electric car is built at the Smyrna complex, Tennessee. The Nissan factory in Decherd in Tennessee supplies electric motors.

Nissan’s Leaf was launched in 2010 and has positioned it at the top of the established automotive manufacturers in the new electric car market. However, the Leaf has lost its 226 mile (364 km) range to Tesla (NASDAQ) and the Model 3 sedan has 358 mi per charge.