The future of Mazda: Investing $11B in Electrification Plan
April 05 2023,
On Tuesday, Japanese giant, Mazda, revealed plans to spend over $10 billion to electrify all its vehicles. Mazda also revealed it is considering investing in the production of batteries. Mazda has also estimated that its sales for EVs will increase by about 40% by the end of 2030.
What Mazda Has Said?
Mazda revealed that it will promote the launch of battery EVs and invest in battery production. Mazda had earlier predicted increasing car sales by 25% by 2030. However, this has now increased as it has planned to launch full-scale EVs between 2028 and 2030.
Akira Koga, Mazda’s senior managing executive office, revealed that almost 1.5 trillion yen would be invested, and most of the money would be used in research and development. This news was reported in the Nikkei daily business section. While Koga did not give a specific investment timeline, he mentioned that it would all depend on how fast the EV market would expand and how soon people would adapt to it.
What Else Is Planned?
Akira Marumoto, Mazda’s CEO, also revealed that the company would soon introduce a hybrid system to improve its internal combustion engine efficiency. Mazda will work with seven companies to produce electric drive units, and they have also reached an agreement with Envision AESC, a battery maker, for supply between 2025 and 2027.
