Subaru to launch four new electric crossovers by end of 2026
Subaru, the automobile manufacturing division of Japanese transportation conglomerate Subaru Corporation, has announced plans to launch four all-electric crossovers by the end of 2026. Eager to increase the pace of electrification of its vehicles, the Japanese automaker intends to produce and sell at least 400,000 units of EVs per year starting 2028. The decision to launch four new all-electric crossovers is also part of the bigger plan to achieve the aforementioned ambitious EV sales target. To increase EV production, the company is also going to add a new EV line in Japan.
Like some other Japanese automobile brands, such as Toyota and Mitsubishi, Subaru is currently lagging far behind other major automakers in terms of EV production and sales. However, it is now determined to make its presence felt in the fast-growing global EV market.
At present, Subaru offers only one all-electric model—the Solterra SUV. Thus, the company’s four upcoming all-electric crossovers will lead to a great expansion in its EV lineup.
Announcing the plans about launching four electric crossovers, Subaru CEO Atsushi Osaki also revealed that the company’s operating profit nearly tripled in the financial year that ended on 31st of March.
As per available information, the EVs will be produce in Japan and exported to the United States. In that case, it is unlikely that those EVs will be eligible for U.S. tax incentives, which are now available only for locally-produced vehicles.
Nakamura, Subaru’s outgoing chief, is however quite confident that the brand’s loyal customers in the U.S. wouldn’t be deterred by a lack of tax incentives for its EVs.
When asked for a comment, Nakamura said, “I wonder if American consumers choose their cars solely based on tax breaks. Our U.S. customers are quality customers. We have a higher ratio of customers buying Subarus with cash. We also keep our incentives at low levels. We will try not to rely only on the subsidy program."
The Japanese automobile manufacturer has set ambitious sales targets. From the year of 2026, the company aims achieve annual global sales of at least 200,000 EVs, and increase that number to 400,000 by year 2028. For batteries, the company will rely on its alliance with partner Toyota. Last year, company officials announced that electrified vehicles (battery electric vehicles and hybrids) would account for at least 40 per cent of its global sales by the end of current decade.