TOKYO (Reuters) – Japan’s Subaru Corp (7270.T) 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 toward its long-term goal of a carbon-free society.

The news comes as Subaru has strengthened capital ties with Toyota Motor Corp (7203.T), in a trend of global automakers joining forces to slash development and manufacturing costs of new technology.

“Subaru’s strong commitment and dedication toward 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.

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.

Reporting by Kevin Buckland; Editing by Himani Sarkar and Clarence Fernandez


Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

ChemChina’s senior foreign managers laud China’s efforts to contain virus

Foreign executives and employees at various business branches of China National Chemical Corporation Ltd, or ChemChina, are optimistic about China’s economic outlook and remain confident on China’s efforts to contain spread of COVID-19. Claude Laubriet, deputy director for Asia at…

Extreme market volatility is here to stay

London (CNN Business)A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. Joe Biden’s Super Tuesday wins sent US stocks soaring — but as the coronavirus outbreak…

Organisers poised to call off Mobile World Congress: sources

MADRID/PARIS/BERLIN (Reuters) – Organisers of the Mobile World Congress (MWC) will decide on Wednesday whether to cancel the event, two sources said, after several major European telecom companies pulled out due to the coronavirus outbreak. Deutsche Telekom (DTEGn.DE), Vodafone (VOD.L),…

The Latest: EU slams Trump’s unilateral travel ban

The Latest on the coronavirus pandemic: The European Union has slammed the new anti-virus travel ban announced by U.S. President Donald Trump, lashing out at the “unilateral” decision. In a joint statement, EU Council President Charles Michel and European Commission…