Subaru Corp aims to build a dedicated electric vehicle (EV) factory in Japan in the late 2020s, it said on Thursday, as part of a $1.9 billion ramp-up to respond to surging demand for battery cars in its main North American market.
The logo of Subaru Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. REUTERS/Toru Hanaiaims to build a dedicated electric vehicle factory in Japan in the late 2020s, it said on Thursday, as part of a $1.9 billion ramp-up to respond to surging demand for battery cars in its main North American market.
Subaru, known for its Outback crossover, has long had a strong presence in the United States and on Thursday warned that its U.S. dealers only have a record low stockpile of around 5,000 vehicles left, reflecting the squeeze of a supply-chain crunch. It plans to launch a mixed-production line of gasoline and electric vehicles around 2025 before opening an EV-only production line in the new factory after 2027, it said. The move would be a first for Subaru. Other Japanese automakers have yet to formally announce plans to build a dedicated EV factory.
Separately, Subaru reported a 12% drop in full-year operating profit to 90.45 billion yen . For the current financial year that began in April, it forecast operating profit of 200 billion yen, more than double the year just ended.Reporting by Satoshi Sugiyama; Editing by David Dolan and Edmund KlamannSubscribe to our auto newsletter to get the latest news that are driving the global automotive industry.
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