Subaru has set ambitious goals for the future of its electric vehicle (EV) offerings. By 2030, the company aims to achieve annual sales of 600,000 battery electric vehicles, which would make up 50% of its overall global sales target. To facilitate this transformation, Subaru plans to invest approximately 1.5 trillion yen (equivalent to $10.51 billion) in electrification by the start of the next decade.
According to Atsushi Osaki, the CEO of Subaru, the upcoming five years leading to 2028 are critical for the company to realize these objectives successfully. Previously, Subaru’s target was to have battery EVs and hybrids comprise at least two-fifths of its annual global sales, projected to reach around 1.2 million vehicles by 2030.
In line with its new goals, Subaru intends to focus on the United States market, where it aims to sell 400,000 battery EVs by 2028. To achieve this, the company plans to expand its battery-powered lineup, aiming for a total of eight models by the end of that year. Currently, Subaru produces its first mass-produced EV, the Solterra, at Toyota’s Motomachi plant. Additionally, the company has plans to introduce three new EV models by the end of 2026 and four more by the end of 2028.
This shift towards a greater emphasis on electric vehicles follows a broader trend in the automotive industry, with other Japanese automakers, like Toyota, also intensifying their efforts in electrification. Toyota, as the world’s largest automaker by sales, unveiled its strategy in June to enhance its competitiveness in the global battery EV market. This strategy includes an overhaul of its supply chain and the development of advanced batteries to extend car driving ranges.
Subaru, being partially owned by Toyota, is set to initiate battery EV production in the United States around 2027 or 2028. This decision is influenced by the rate at which U.S. consumers are transitioning to electric vehicles. As Subaru takes these steps towards its electrification targets, it aims to establish itself as a major player in the evolving EV market, reducing its dependence on traditional gasoline-powered vehicles and contributing to a more sustainable automotive future.
Source: Reuters
