TOKYO— Nissan Motor Co. said Monday it plans to spend $17.6 billion over the next five years as it adds 20 new battery-powered vehicles to its lineup.

The company hopes to recapture a degree of the prominence it held in the electric-vehicle race after its pioneering introduction of the Leaf EV more than a decade ago. Investors have boosted the share prices of car makers that are betting big on EVs, including relative newcomers such as Tesla Inc. and industry stalwarts like Ford Motor Co. and Volkswagen AG .