Japan’s Subaru unveils first all-electric car, developed with Toyota

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TOKYO, Nov 11 (Businesshala) – Japan’s Subaru Corp (7270.T) on Thursday unveiled Solterra, the first all-electric vehicle (EV), the result of a two-year joint development project with its largest shareholder Toyota Motor Corp. did. 7203.t).

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The sports utility vehicle (SUV) launch comes amid a boom in EV demand as countries around the world tighten environmental regulation to cut carbon emissions. Toyota last month announced its version of a battery electric vehicle (BEV), the bZ4X.

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The technological shift away from the internal combustion engine poses a challenge for smaller carmakers such as Subaru, which have been less able to fund the costly development of EVs. Also, it is an opportunity for top-tier automakers like Toyota to bring smaller rivals closer.

Toyota, a pioneer of hybrid electric cars but a latecomer to the full EV market, plans to have a line-up of 15 BEV models by 2025. It is spending $13.5 billion over the next decade to expand auto battery production capacity.

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Subaru’s vehicle sales are less than a tenth of that of Toyota, the world’s largest automaker by production volume.

The front-wheel drive Solterra has a cruising range of 530 km (329 mi), while the all-wheel drive version can drive 460 km, Subaru said in a press release.

Toyota owns a fifth of Subaru, and a 5% stake in Mazda Motor Corp (7261.T), which plans to launch 13 electrified vehicles by 2025, including hybrids and BEVs that incorporate Toyota technology. will do.

Reporting by Tim Kelly; Editing by Christian Schmollinger

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