TOKYO -- Nissan will stop developing new internal combustion engines for Europe, as consumers shift to battery-electric vehicles.
Nissan Chief Operating Officer Ashwani Gupta confirmed the move on Tuesday while announcing the company's financial results.
The development halt will coincide with the introduction of Euro 7 emissions standards, which will limit tailpipe emissions of harmful pollutants from gasoline and diesel cars
The European Union is expected to implement Euro 7 from 2025.
The new standard has been opposed by the auto industry because the planned limits are 5 times to 10 times harsher than those for Euro 6, according to the VDA German auto industry group.
Gupta said Nissan will continue developing combustion power plants for other markets where they make sense. He pointed to the redesigned Z sports car and Rogue crossover as the kind of gasoline vehicles still in hot demand in certain markets.
Nissan will also continue limited development of its gasoline engines for its U.S. market, mainly for pickup trucks, according to Nikkei newspaper.
Nissan and alliance partners Renault and Mitsubishi Motors will invest 23 billion euros ($26 billion) into EVs over the next five years.
As part of the EV shift, Nissan will launch a full-electric successor to its Micra small car that will be based on a new EV platform shared with the upcoming Renault 5.
