Similar to the bZ5X model, the upcoming Subaru electric vehicle (EV) is anticipated to source its batteries from Toyota’s under-construction plant in Liberty, N.C., set to commence production in 2025. This strategic decision regarding the final assembly location and battery procurement could enable both the bZ4X and Solterra models to qualify for the complete $7,500 federal tax credit under the Inflation Reduction Act, an advantage that their counterparts currently do not possess.
In the development process, Toyota focused on the manufacturing aspect, while Subaru contributed its expertise in off-road performance. By adopting this joint development and production strategy, Subaru can unveil a larger EV while ensuring the smooth operation of its U.S. assembly plant in Lafayette, Ind., where the automaker currently produces the ICE-powered Ascent, Outback, Crosstrek crossovers, and Legacy sedan.
A Subaru of America spokesperson declined to comment, but Subaru Corp., the parent company, is currently hosting a midterm meeting with analysts and the press present in Japan on Aug. 2. While it remains uncertain whether the new EV will be announced during this event, further details may emerge. Toyota Motor North America’s spokesperson also refrained from providing any comments.
Notably, Subaru holds a 0.3 percent stake in Toyota, which in turn owns approximately 20 percent of Subaru.
The process of retooling Toyota’s sprawling 9-million-square-foot Georgetown assembly plant forms part of the $461 million investment announced in 2021. At this facility, workers currently produce the Camry, Camry Hybrid, RAV4 Hybrid, Lexus ES, as well as four- and six-cylinder engines. Additionally, the plant will commence hydrogen fuel cell drivetrain production for heavy-duty trucks in December. Meanwhile, the Georgetown site plans to phase out the production of the ES model in 2025, with the luxury sedan continuing to be manufactured in Japan.
In terms of its battery operations, Toyota has unveiled plans to invest $5.9 billion in its nascent North Carolina battery plant. The facility will operate a total of six battery production lines, with four dedicated to hybrid vehicles and two for electric vehicles.
Toyota has set a target to launch ten EV models worldwide by 2026. Consequently, the company plans to invest over $37 billion in the development and production of EVs by the end of this decade.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
