The market for electric vehicles (EVs) has been steadily expanding over the past ten years, and this surge in demand has resulted in an increase in EV manufacturing. Subaru has recently announced their plans for releasing four new all electric vehicles. There are a number of causes for the expanding market. One explanation is the 2021 Infrastructure Investment and Jobs Act, which was originally intended to add fast charging stations along the interstate to allay consumers’ concerns about EVs and long-distance driving. The rise in consumer interest is another important aspect. Many customers are looking to electric vehicles to help minimize this issue since they want to reduce their own personal carbon footprint. Additionally, studies have shown that converting to EVs saves consumers money by lowering lifetime fuel and maintenance expenses.
Toyota Enters the Market
Automotive manufacturers are attempting to keep up with the projected industry growth by coming out with new and improved electric vehicle models. Subaru’s main shareholder, Toyota, was a main skeptic among major car brands and, as a result, has produced a limited lineup of EVs and hybrids. Toyota has only recently started to dig deeper into the electric vehicle market and its potential. Toyota’s main contributions have been the Toyota bZ4X, Solterra, and Lexus RZ. Earlier in the year, Toyota announced its plan to launch ten new battery electric vehicle models by 2026. This announcement has influenced Subaru as they have announced their new ventures into electric vehicles.
Subaru Announces Electric Vehicles
At Subaru’s press conference to wrap up its fiscal year, the news was made. By the end of 2026, four all-electric crossovers will be available, up from the brand’s present one nameplate, the Subaru Solterra, according to the brand’s new president and CEO, Atsushi Osaki. Osaki described the increased electrification intentions this week and stated that its American clients should be able to purchase the new EVs. A specialized EV assembly line with a capacity for 200,000 vehicles per year will be added by Subaru to its Oizumi factory in Japan as early as 2027 as part of the company’s ramped-up EV ambition.
With the release of the Subaru Crosstrek Hybrid, the automaker made its EV debut in 2019. Following this initial release, Subaru was able to obtain important information that they used to develop and refine their new lineup. Subaru aims to produce the four new all-electric cars in Japan, according to Osaki, even though over 70% of the company’s global sales are made in the United States and the imported EVs are not qualified for American tax incentives. Through its partnership with Toyota, which owns 20% of Subaru Corporation, Subaru stated it would source electric EV batteries for the new vehicles from Toyota. But unlike the Solterra EV, Subaru will construct its electric vehicles in-house rather than relying on Toyota to do so.
Subaru’s ambitious plan to introduce four new electric cars by the end of 2026 shows the company’s dedication to performance, safety, and reliability while embracing a sustainable future. Subaru seeks to fulfill the changing needs of environmentally concerned consumers while adhering to its basic principles by expanding its lineup to include electrified versions of its well-known models.