YOKOHAMA, Japan: Joining a growing number of carmakers that are shifting to electric vehicles (EV) by the end of the decade, this week, Nissan said that by 2030, all its new European models will be fully electric, and it plans to sell only EVs on the continent.

In a statement, Nissan CEO Makoto Uchida stressed, "There is no turning back now."

Nissan said that one of two new EV models it has already confirmed for Europe will be manufactured at its Sunderland plant in northeast England.

While some carmakers warned that failure to comply with "rules of origin" agreed in the UK's Brexit deal with the European Union (EU) could lead to 10 percent tariffs on EVs traded between the bloc and the UK as soon as January, Guillaume Cartier, Nissan's chairman for Africa, Middle East, India, Europe & Oceania, told reporters that cars made in Sunderland would meet those rules.

As it aims to catch up in a segment dominated by new companies like Tesla and various Chinese carmakers, earlier this year, the Japanese carmaker raised its targets for EV models, stating that it plans to launch 19 new EV models by 2030.

Ford and Stellantis also plan to go fully electric in Europe by 2030, while Volvo plans to sell only EVs globally by the same year.

Amid lower-cost competition from Chinese carmakers, Nissan is working to reduce costs as it invests heavily in electrification, said Uchida told reporters.

"There is a lot of competition happening; the Chinese carmakers are coming massively. The Chinese have moved much, much faster than we expected," Uchida said.