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Mazda Lowers Its Investment In Electric Cars
Mazda is once again delaying the launch of its new electric vehicles. The company originally planned to launch a new electric car in 2027, but then pushed that deadline back to 2028. Now it looks like it won’t arrive until at least 2029.
Mazda CEO Masahiro Moro points out: “When it comes to electric vehicles, we have always been cautious.”
As part of this change, Mazda is cutting its investment in electric vehicles by almost half, from about $12.5 billion to $7.5 billion by 2030.
The Japanese automaker now expects electric vehicles to account for about 15 percent of its total sales by the end of the decade, with annual production targets of 200,000 to 250,000 units. That’s a big drop from its previous target of 25 to 40 percent.
Instead, Mazda is doubling down on its investment in hybrids, where it sees greater demand and better profitability.
Mazda has also confirmed a new generation of the CX-3, which will likely also get a hybrid powertrain.
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