Subaru Shifts focus to EVs- Plans for 8 EVs by 2028

Subaru has finally decided to focus its efforts and resources on developing electric vehicles. A new electrification strategy recently unveiled by the Japanese carmaker calls for the launch of 8 EV models by 2028 and a 50% market share for BEVs by the end of the decade.

After reporting its quarterly results, Subaru’s president and CEO, Atsushi Osaki, disclosed the new electrification goals. Osaki announced significant changes to the automaker’s strategy, aiming for a 50% BEV share in 2030, or 600,000 units sold. By 2028, Subaru plans to sell 400,000 electric vehicles in the US, which is its largest market and accounts for nearly 70% of all of its sales.

This is a significant departure from Subaru’s prior projections, which called for a combined 40% share of EV and hybrid vehicles. Subaru now aspires for a 50/50 BEV to HEV mix instead of 60% ICE sales. Subaru also intends to start producing EVs in-house in 2025 and add specialized EV production lines around 2027.

Related: Toyota to Step Up Hydrogen Fuel Cells Push Outside Japan

Growth will be fueled by a 1.5 trillion yen ($10.4 billion) investment by 2030, including a previously stated 250 billion yen for local production reorganization. Subaru intends to release 8 electric vehicles by the end of 2028, including four new EV models by the end of 2026 (including the Solterra).

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The Subaru Solterra, currently the only electric vehicle produced by the company, is built by Toyota (which owns 20% of Subaru) and is based on the same e-TNGA platform as the bZ4X. Both electric cars (Solterra and bZ4X) are built by Toyota at its Motomachi assembly facility in Japan. Subaru sold 3,730 Solterra EVs in the United States this year through July, accounting for just about 1% of total sales.

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