Subaru to Make 40 Pct of Its Vehicles Electric in 2030

Economy

Tokyo, Jan. 20 (Jiji Press)--Subaru Corp. <7270> said Monday it aims to raise the proportion of electric and plug-in hybrid vehicles in all of its automobiles sold across the globe to 40 pct in 2030.

The proportion stood at 2.1 pct in fiscal 2018, which ended in March last year.

Subaru hopes to reduce carbon dioxide emissions by accelerating the development of electrified vehicles with leading Japanese automaker Toyota Motor Corp. <7203>, which has an equity stake in the smaller peer, amid worldwide moves to tighten environmental regulations.

Subaru plans to release an electric SUV to be developed with Toyota in the early 2020s and a hybrid vehicle using Toyota technologies in the mid-2020s.

"We will speed up the development of key technologies, taking advantage of our partnership with Toyota," Subaru President Tomomi Nakamura said at a press conference.

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Jiji Press