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Japan’s Subaru unveils first all-electric car, developed with Toyota -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Subaru Corp. logo pictured at Tokyo Motor Show, Tokyo Japan on October 25, 2017. Picture taken October 25, 2017. REUTERS/Toru Hannai

TOKYO, Reuters – Japan’s Subaru Corporation (OTC) Corp unveiled its first all-electric vehicle (EV) on Thursday. The Solterra is the product of a 2-year-long joint development project with the largest shareholder. Toyota Motor Corp. (NYSE:)

This launch of the sports utility vehicle (SUV), comes as EVs are in high demand. As nations tighten environmental regulation, they will be reducing carbon emissions. Toyota’s version of an electric battery vehicle (BEV), was announced last month by the bZ4X.

Subaru is one of the few carmakers that can’t afford to develop EVs. It is also an opportunity for Toyota and other top-tier automakers to attract smaller competitors.

Toyota is a pioneer in hybrid electric vehicles but late to the full market. It plans to launch a lineup of 15 BEVs by 2025. To increase the production of auto batteries, it will spend $13.5 million over 10 years.

Subaru sales of vehicles are only a tenth that of Toyota’s, which is the largest automaker in terms production volume.

Subaru stated in a press release that the Solterra front-wheel-drive version has a range of 530km (329 miles), and the All-Wheel Drive model can travel 460 km with a single charging.

Toyota holds a fifth share of Subaru and a 5% interest in Mazda Motor Corp (OTC:) Corp. The company plans to launch 13 electric vehicles, some hybrids, that incorporate Toyota technology, by 2025.

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