Subaru invests $1.9 billion in an electric vehicle production plant

At the request of other Japanese manufacturers, Subaru wants to catch up on electric vehicles. The brand will invest 1.9 billion dollars over five years for the production of batteries and the manufacture of electric vehicles, which will be delivered in 2027.

The manufacturer Subaru intends to accelerate its electrification strategy. At the end of the year, it planned to invest over 5 years 1.9 million dollars in the establishment of a production line dedicated to electric vehicles in their main power station, located in the prefecture of Gunma, Japan. . Added to this will be the manufacture of batteries.

We will have to wait until 2027 to see the first electric Subaru come out made in Gunma. In fact, you Alone, the brand’s first electric SUV developed jointly with Toyota, will be manufactured for the first time for the last. Note, Subaru recently awarded the order prize for SUVs.

Subaru electric vehicles manufactured in Gunma were mainly exported to the United States, where 70 percent of sales were made, confirmed Tomomi Nakamura, CEO of Subaru. The manufacturer aims for 40% of new cars sold by the brand to be electric by 2030. In return, Tomomi Nakamura did not communicate on the production capacity of this new line.

This announcement made due to the presentation of the brand’s financial results, with operating profit increasing by 12% to 701 million dollars. For the new fiscal year which started in April 2022, Subaru offered a mining profit of 200 billion yen, plus twice the school year mobile phone. This is better than analysts’ estimates, which they expected at 196 billion yen.

Follow Tesla’s example

With this production plant dedicated to electricity, Subaru is taking the example of other Japanese manufacturers, who are finally aware of the delay compared to the competition, and in particular a certain Tesla – locomotive of the sector.

According to a report by Researcher and Research LLC Dating back to January 2022, in 2021 Japan occupied 4th place in the global automotive market with 2,399 million passenger cars sold. The podium being monopolized by China (20.857 million), the United States (14.936 million) and Germany (2.622 million).

On the other hand, with only 43,917 EVs (electric vehicles + plug-in hybrids) sold in 2021, Japan is far, very far behind China, the United States and Germany. Indeed, it does not represent 1.4% of the Chinese market, 7.4% of the United States or 6.4% of Germany.

In addition to Subaru, Honda will spend 5 million yen over the next decade on manufacturing zero-emission vehicles, while Toyota will invest $624 million to manufacture components for EVs in India.

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