Mazda may have a new EV platform ready by mid-decade.
On Tuesday, the Japanese automaker actually unveiled a large-scale, nearly $11 million investment strategy into electrification and launch new battery electric models over the next five to seven years. Mazda also committed to raising its EV market share, targeting up to 40% of its total global sales by 2030 (up from an earlier 25% estimate).
“We will promote the full-fledged launch of battery EVs and consider investing in battery production,” the company said in its official statement. While it’s certainly not the most aggressive plan — several brands are committing to go 100% electric within the next seven years — Mazda’s three-phase plan will see it launch new EVs by as early as 2025.
Per Automotive News, Mazda is considering U.S. production of vehicles and battery packs to successfully navigate this year’s Investment Reduction Act (IRA). That legislation redefines how an EV qualifies for a $7,500 tax credit, largely by incentivizing production within North America.
To date, the brand’s only foray into a fully electric car has been the MX-30. That car did not see mainstream sales success, mainly because of its short range and the fact that it was only available to buy in California.
Senior managing executive officer Akira Koga announced the investment would lean heavily toward R&D. However, another element of that plan (as reported by Reuters) will be to secure enough battery production to support its EV launches. Mazda announced it reached a supply agreement with battery manufacturer Envision AESC to supply packs between 2025 and 2027. It’s also planning to work with several companies to produce new electric drive units. Beyond , we would like to develop a strategy on procurement and securing batteries step by step.”
As ever, Mazda isn’t giving up on internal combustion yet
While this new plan bears a much larger scope than Mazda’s previous announcements, it will continue to invest in efficiency improvements for its internal combustion engines. In a Toyota-esque statement, Mazda CEO Akira Marumoto said, “We believe a multi-solution approach will be effective.” Toyota has taken a slower approach than other automakers toward EVs, and is also continuing investment in its engine and hybrid system technology to bridge the gap toward a fully electric portfolio.
In its three-phase plan, Mazda said it would focus on launching electric models around mid-decade. Larger-scale rollouts targeting all popular segments, though, could still be a way down the road. The automaker plans to make those rollouts between 2028 and 2030.