Subaru Aims to Increase EV Sales Share to 50% in 2030

Jiji Press

17:43 JST, August 3, 2023

TOKYO (Jiji Press) — Subaru Corp. aims to increase sales of electric vehicles to have them account for 50% of its total global vehicle sales of over 1.2 million units planned for 2030, President Atsushi Osaki said Wednesday.

At the day’s briefing on business plans, Osaki also said that the automaker will start EV production in the United States, its main market, around 2027 to 2028, in view of the rapid shift to EVs there and tax breaks that may be granted under the U.S. Inflation Reduction Act.

Subaru previously said that it would raise the combined share of its hybrid vehicles and EVs in global vehicle sales to at least 40% and export EVs made in Japan to the United States.

“We will respond to major changes in the business environment,” Osaki said.

Subaru will launch four new EV models by the end of 2028, in addition to the four SUV EV models that have already been announced.

The company has set a target of selling 400,000 EVs in the United States in 2028.

It plans to invest ¥1.5 trillion in vehicle electrification by around 2030. About half of the money will go to battery-related projects.

Subaru hopes to boost battery procurement by newly cooperating with Panasonic Energy Co., based in Moriguchi, Osaka Prefecture. The partnership adds to its battery tie-up with Toyota Motor Corp.