Subaru pledges $2.05 billion for electrification after feedback from US dealers that EV demand is on the rise
see photosSubaru Boss expects an EV factory to be up and running by 2027
Subaru is another Japanese automotive player that is suddenly changing and announcing massive investments in electric powertrains. It has announced plans to build a dedicated EV assembly plant in 2027 as part of a multi-billion dollar investment towards electrification over the next 5 years. Its CEO Tomomi Nakamura outlines a plan that was announced on May 12 when it announced its earnings.
Its 2023 Solterra EV will be built in Japan at Toyota’s Motomachi assembly plant, the same plant where Toyota is making its first EV, the bZ4X. But in the future, Subaru plans to make its EVs in-house.
Subaru’s first EV is being built in the same facility as Toyota
Nakamura has said that initially, Subaru will make its EVs in a mixed production scenario with internal combustion engine vehicles at its Yajima plant in Japan in mid-2020. But from 2027, the EV will be built at a dedicated factory at the site of the Ozumi plant that is currently making the engine and transmission.
“Two or three years ago, US retailers weren’t asking about electric vehicles at all. But in this past year, it’s suddenly increased,” Nakamura said.
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Subaru has announced an investment of $2.05 billion. It expects 40 percent of its global sales to come from EVs and hybrids by 2030. The Solterra EV will be the first model that starts at $44,995 in the US and will also be eligible for a $7,500 tax credit and other state incentives.
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