Japanese car-maker Subaru has revealed its ambitious plans to launch eight electric car models worldwide over the next five years and aims for battery-powered vehicles to account for up to 600,000 annual sales by the end of the decade. This is a significant increase from Subaru’s previous target of having four electric car models on sale within the same time frame. The company plans to introduce three new electric SUV models, in addition to the Solterra which is already on sale, by the end of 2026. Four more electric cars are slated to launch by the end of 2028.
Subaru’s CEO, Atsushi Osaki, also announced a revised sales target for electric cars, aiming for them to constitute half of the company’s annual sales of 1.2 million vehicles by 2030. Of the 600,000 electric cars Subaru aims to sell annually, 400,000 are intended for the US market, potentially requiring many of them to be manufactured in North America to take advantage of tax credits and rebates.
Subaru’s target represents a significant increase from its previous goals, which aimed for hybrid and electric vehicles to comprise 40% of global sales by the end of the decade. The company’s partnership with Toyota, which holds a 20% stake in Subaru, could play a significant role in expanding Subaru’s electric vehicle lineup.
In terms of specific models, Subaru is reportedly planning to launch a new seven-seat electric SUV in the US in 2025, built by Toyota in Kentucky before Toyota’s own version is introduced.
Subaru Australia has also announced that the Solterra electric SUV is expected to arrive in local showrooms in the latter half of 2023. Despite facing challenges from Chinese car-makers and a rapidly evolving market, Subaru has been experiencing growth in various markets, including Australia, where it reported a 25.9% increase in sales for the first half of 2023 compared to the same period last year.