Subaru and Toyota are building on their partnership with plans to build three new electric crossovers. The company said that teaming up with Toyota will help minimize the “huge risk” of building EVs alone.
“There is a huge risk for us to go it alone in this field,” Subaru CEO Atsushi Osaki said during a conference on Monday.
After operating profits climbed 75% this fiscal year, Osaki explained, “At the moment, it is quite difficult to predict how things will go from here with EVs.” Subaru only sold 14,000 units of its sole all-electric car, the Solterra, last year, including 8,872 in the US.
Of the 852,000 vehicles delivered globally in 2023, fully electric vehicles accounted for only 1.6% of total sales.
With Subaru’s EV sales falling in the critical US, the automaker revealed a new strategy to turn things around.
Under Osaki, who…