Subaru announced ambitious plans on Wednesday to reach annual sales of 600,000 battery electric vehicles (EVs) by 2030, accounting for 50% of its global sales target.
The new goal reflects a significant increase from the company’s previous aim to have battery EVs and hybrids make up at least two-fifths of the expected 1.2 million global annual sales by the same year.
In a move to realize these targets, Subaru will invest around 1.5 trillion yen ($10.51 billion) in electrification by the beginning of the next decade. “The coming five years to 2028 are a really important period for us to realize those goals,” stated Atsushi Osaki, chief executive of Subaru, according to Reuters.
In the United States alone, the maker of the Outback crossover is aiming to sell 400,000 battery EVs in 2028 and plans to expand its battery-powered lineup to eight models by the end of that year. Subaru currently manufactures its first mass-produced EV, the Solterra, at Toyota’s Motomachi plant and intends to introduce three new EVs by the end of 2026 and four more by the end of 2028.
The new target positions Subaru in line with other major Japanese automakers like Toyota, which in June laid out a comprehensive strategy to strengthen its presence in the global battery EV market, including a complete overhaul of its supply chain and advancements in battery development to enhance driving ranges.
Subaru sold 758 Solterra EVs in July 2023, and year to date sales are at 3,730. The Japanese company has a long ways to go to reach 600,000 EVs per year.
Being a fifth owned by Toyota, Subaru is likely to begin battery EV production in the United States around 2027 or 2028, according to Osaki. This move aligns with the rapid shift of U.S. consumers towards electric vehicles and underscores Subaru’s commitment to meeting the growing demand for environmentally friendly transportation.
