Mazda Motor Corp. said it will spend about ¥1.5 trillion ($11 billion) for the electrification of its vehicle lineup by 2030. It expects environmental regulations and shifting consumer tastes to create more demand for battery-powered vehicles, as per Market Watch.
“Mazda expects electric vehicles to amount to 25% to 40% of its global sales in 2030,” said Chief Executive Akira Marumoto.
Previously, the company forecasted that EVs would account for approximately a quarter of its sales by the decade’s end.
Like other Japanese automotive brands, Mazda took a measured approach to EV introduction. The company said it anticipates efficient engines to contribute to decreasing emissions.
Mazda to go fully-electric
“We will fully shift to electrification,” Marumoto said.
Along the path to 2030, factors such as regulations and energy and charging infrastructure will possibly remain uncertain.
“Being able to flexibly respond based on customer needs and infrastructure is the path I believe we should take,” said Marumoto.
On Tuesday (November 22), Mazda said that it has an agreement with battery maker Envision AESC to acquire batteries for electric vehicles built in Japan.
In addition, the Japanese carmaker said its electric efforts will need around ¥1.5 trillion, equaling around $10.6 billion, in spending by 2030.
The automaker says that the company aims for around ¥4.5 trillion ($31 billion) in net sales for the business year ending in March 2026, an increase of about 45% from the financial year ending March 2022.
Development enhancement & transition period
The company also sets a development enhancement period in 2022-2024 and a transition period through 2025-2027, in which it plans to launch electric vehicles in the Chinese market.
