Subaru sets mid-2030s target to sell only electric vehicles worldwide
Japan's Subaru Corp set a target on Monday for all the vehicles it sells worldwide to be electric by the first half of the 2030s, in a move towards its long-term goal of a carbon-free society.
The news comes as Subaru has strengthened capital ties with Toyota Motor Corp, in a trend of global automakers joining forces to slash development and manufacturing costs of new technology.
"Subaru's strong commitment and dedication towards car-manufacturing that we have cultivated throughout our history remain unchanged," President Tomomi Nakamura said in a statement.
By 2030, the Japanese automaker added, at least 40% of all of its cars sold worldwide would comprise all-battery electric vehicles or hybrid vehicles.
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Subaru, which produces the Outback and Forester SUVs, is known for its horizontally placed boxer engines, along with its EyeSight autonomous driver assist and all-wheel-drive technologies.
Automakers worldwide are scrambling to chase scale, manage costs and boost development of the self-driving cars, electric vehicles and new mobility services that are upending the industry.