Japan's Subaru unveils first all-electric car, developed with Toyota
TOKYO (Reuters) - Japan's Subaru Corp on Thursday unveiled its first all-electric vehicle (EV), the Solterra, the result of a two-year joint development project with its biggest shareholder, Toyota Motor Corp.
The sports utility vehicle (SUV) launch comes amid accelerating demand for EVs as nations around the world tighten environmental regulation to cut carbon emissions. Toyota last month announced its version of a battery electric vehicle (BEV), the bZ4X.
The technological shift away from internal combustion engines poses a challenge for smaller carmakers, such as Subaru, that are less able to fund expensive development of EVs. At the same time, it is an opportunity for top-tier automakers, such as Toyota, to draw smaller rivals closer.
"The EV market is not mature yet, so we will respond to it by deepening our cooperation with Toyota," Subaru CEO Tomomi Nakamura said during a launch event.
For now, he said, the Solterra would be built by Toyota in Japan and Subaru may move production to its main market, the United States, when it had sufficient sales volume.
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