Tokyo, Nov. 11 (Jiji Press)–Subaru Corp. plans to revise its plan to invest 1.5 trillion yen in electric vehicles to allocate some of the funds to the development and production of gasoline and hybrid vehicles. The move comes as a U.S. policy shift under President Donald Trump is dampening demand for EVs and increasing the popularity of hybrid vehicles in the United States. “We haven’t changed our medium- to long-term focus on EVs,” Subaru President Atsushi Osaki said at a press conference on Monday, but added that the company will postpone some EV investments in light of the changing market environment. Among other Japanese automakers, Honda Motor Co. has reduced its EV investment from 10 trillion yen to 7 trillion yen. Toyota Motor Corp. has decided to review its plan to build an EV battery plant in Fukuoka Prefecture. END [Copyright The Jiji Press, Ltd.]
Subaru Scales Down EV Investment Plan
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