Subaru is gearing up for a significant shift in its business strategy, aiming to make electric vehicles (EVs) a major player in its lineup. The company's President, Atsushi Osaki, revealed a bold plan to ensure that electric vehicles account for 50% of the company's projected global vehicle sales of over 1.2 million units by 2030. During a recent business briefing, Mr. Osaki emphasized that Subaru would take steps to keep up with the fast-paced EV trend in its main market, the United States. The automaker plans to commence EV production in the U.S. around 2027 to 2028, a move aligned with the anticipated surge in EV adoption and potential tax incentives under the U.S. Inflation Reduction Act.  Subaru's previous commitment to increasing the combined share of hybrid and EV vehicles in global sales to at least 40% remains, while the company now also plans to export EVs produced in Japan to the U.S. Mr. Osaki assured stakeholders that Subaru will stay agile and adapt to sh...

Toyota Motor Corp. announced on Wednesday its plans to commence the production of electric vehicles (EVs) at its factory in Kentucky, USA, starting in 2025. As part of this initiative, the company will invest an additional $2.1 billion in battery production. The Kentucky plant will serve as Toyota's first EV production facility in the United States, the world's largest economy, and will focus on manufacturing three-row electric sport utility vehicles. In conjunction with this development, Toyota will bolster production capacity at a new battery factory currently under construction in North Carolina. The North Carolina facility is slated to begin producing batteries for both hybrid cars and EVs from 2025. With the latest investment, Toyota's total funding for the North Carolina factory will amount to $5.9 billion.   This announcement aligns with the increased emphasis by the administration of U.S. President Joe Biden on global automakers to manufacture all-electric veh...