Mobility

Subaru effectively shelves in-house EVs as profit plunges 90 percent, strategy retreat

Subaru has effectively postponed plans to launch its own internally developed electric vehicles indefinitely, pivoting toward hybrids and gasoline-powered models amid deteriorating results and uncertainty in the U.S. market. It withdrew a plan to introduce up to four in-house EVs by 2028 and delayed EV production at a new plant in Oizumi, Gunma. Operating profit fell about 90 percent to 40.1 billion yen, and the company swung to a net loss.

Industry

Stellantis to mass-produce ultra-low-cost EV from 2028 to take on BYD

Stellantis has unveiled an ultra-low-cost small electric vehicle project aimed at Europe, seeking to defend the mass-market EV segment as Chinese rivals push into the region. The automaker plans to produce a new EV called the E-Car at its Pomigliano plant in Italy from 2028. A precise price was not disclosed, but an industry source cited by Reuters put the starting price at about 15,000 euros.