According to foreign media reports, Subaru and Toyota will strengthen cooperation, and the two sides plan to cooperate in the production of three new electric crossover vehicles.
Subaru said a partnership with Toyota would help minimise the “significant risk” of producing electric cars on their own.
Subaru CEO Atsushi Osaki said at a conference on May 13th: “it is a huge risk for us to explore alone in this area.
” Osaki explained: “at present, it is difficult to predict how electric vehicles will develop in the future.
” Subaru sold only 14000 electric cars last year, of which 8872 were from the US market.
In 2023, Subaru delivered 852000 vehicles worldwide, with electric vehicles accounting for only 1.
6 per cent.
So far, the company has released only one pure electric car, the Solterra.
Photo: Subaru, the company has unveiled a new strategy to turn things around as Subaru’s electric car sales decline in the United States.
Under the leadership of Osaki, who became Subaru CEO in April last year, the company aims to achieve 50% of its total sales of electric vehicles by 2030, or about 600000 units.
Although that target is still low, it is a big improvement from the previous sales target of 40% of hybrid and electric vehicles combined.
According to the plan, Subaru will have four all-electric SUV models by the end of 2026, including the Solterra.
By the end of 2028, Subaru will add four new electric vehicles, bringing the total to eight.
Subaru will jointly develop and produce three new electric models with Toyota, Osaki said.
Toyota has a 20 per cent stake in Subaru and working with Toyota will help the smaller Japanese carmaker minimise risk in its transition to electric cars.
“We have had talks with Toyota and agreed that it is better to reduce risk through joint development,” Osaki explained.
Subaru will produce one of three new electric cars at its plant in Yajima, Japan, to supply Toyota and Subaru.
Toyota will produce an electric car in the United States, which will also be supplied to two companies.
Toyota is expected to produce Subaru’s first three-row electric SUV in Kentucky in 2025.
Subaru plans to start producing electric cars in Japan from 2025, with an annual production capacity of about 200000 vehicles.
Subaru will add a dedicated production line for electric vehicles in 2027, when its production will increase by another 200000 vehicles.
Osaki also said: “as the market has changed a lot, we will continue to move forward while studying the situation carefully.
” Subaru will receive a federal electric vehicle tax credit in the US, which will help boost demand because Toyota will produce these vehicles in the US.
Subaru also revealed plans to expand its lineup of hybrid vehicles.
“although we have begun to transition to electric cars, we think it is also important to sell cars with internal combustion engines at the same time,” Osaki said.
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