Toyota & Subaru Collaborate on EV Development to Cut Production Costs

Group 1 - Toyota Motor Corporation and Subaru Corporation are set to launch a jointly developed electric vehicle (EV) in Japan, the United States, and Europe in 2026, with production starting in January 2026 at Subaru's Yajima plant [1] - The new EV will utilize parts from the Toyota bZ4X and other models to keep costs low, primarily targeting sales in North America, Europe, and Japan [2] - Toyota aims to generate 40% of its global sales from EVs by 2025 and 70% by 2030, planning to invest over $35 billion in EVs through 2030 and introduce 30 new EV models by the end of the decade [2] Group 2 - Toyota plans to expand global sales of battery EVs to 1.5 million units in 2026 and 3.5 million units annually by 2030, with a focus on introducing a new series of solid-state batteries to enhance range and reduce production costs [3] - The ratio of electrified vehicles sold to total sales in fiscal 2024 is expected to be 37.4%, increasing to 46.4% in fiscal 2025 [3]