Mazda Reveals EV Spending Plans

On November 22nd (2022), Mazda announced its plans to spend $11 billion to propel electrification. In addition to the Japanese automaker’s EV spending plans, the CX-90 maker is also considering investing in battery production. 

It may come as no surprise since the ‘Zoom-Zoom’ automaker unveiled its spending plans, but additionally, Mazda increased its EV sales target goal to 40 percent of its global sales by 2030. Although the Japanese automaker may appear a little tardy for the party, other automakers come across as late bloomers struggling to keep up with environmental regulations. 

Leave it to contenders like Toyota and Honda to say that Mazda’s imitating their investment plans. However, the Japanese automaker provided enough room for their adversaries to fail on the freshly paved road to sustainability. Environmentalists and green activists have chastised these automakers for their late start in the EV segment. However, Mazda knows it’s better to be safe than sorry. 

“We will promote the full-fledged launch of battery EVs and consider investing in battery production. We estimate Mazda’s EV ratio in global sales to rise to a range between 25 percent and 40 percent as of 2030.” 

– Mazda 

Initially, Mazda held an electric vehicle sales target goal of 25 percent by 2030. However, the new EV goal falls in line with regulations. Further, the consulting firm, Deloitte, anticipates that EV sales will comprise 32 percent of new car sales by 2030. 

So Mazda does have a three-phase plan, and the automaker will introduce its electric battery model in the late half of phase 2. The latter half of phase 2 will fall somewhere between 2025 and 2027. Furthermore, a complete launch of Mazda’s fully-electric vehicles will occur sometime between 2028 and 2030. 

Even with electric vehicle plans underway, Mazda’s CEO Akita Marumoto stated that the automaker would debut a new hybrid system and heightened performance for its internal combustion engine. 

“We believe that a multi-solution approach will be effective.” 

– Mazda CEO Akira Marumoto 

The Japanese automaker agreed to several different collaborations. One partnership includes the electric-component maker Rohm Co. The partnership will develop and produce electric drive units that work to propel EVs. 

Mazda aims to make over $32.5 billion in net sales by March 2026. The net sales will propel the automaker up 45 percent from March of this year (2022). Moreover, Deliotte anticipates that Mazda’s EV sales will reach 31.1 million by 2030, a drastic ascension from the 2020s 2.5 million sales. 

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Photo Source/Copyright: Mazda USA