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Japanese OEM Electric Vehicle Launch Plans
Strengthening HEVs and PHEVs along with BEVs; building new battery plants in Japan
2024/09/13
Table of contents
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Summary
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Toyota: Planning to invest JPY 1.7 trillion in growth areas and JPY 380 billion in people
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Honda: Release of the all-new mini commercial EV "N-VAN e:" and launch of "HondaJet Share Service"
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Nissan: Collaborating with Honda on next-generation SDVs, batteries, e-Axles, and more; Mitsubishi Motors also participating
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Suzuki: 43% of vehicles are HEV and CNG; technology strategy for energy minimization
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Mazda: Strengthening HEVs and PHEVs, "follower" strategy for BEVs
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Mitsubishi Motors: Working with partners to adapt to the situation in each country
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Subaru: Aiming to achieve carbon neutrality while maintaining the advantages of horizontally opposed engines and AWD
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Japanese passenger car manufacturers' FY2023 results and FY2024 forecast
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GlobalData Production Forecast: Production in Japan will be 8.13 million units in 2027
Summary
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Dashboard：Visual analysis of sales volume data |
This report covers Japanese automakers' electric vehicle launch plans, focusing on announcements made in the first half of 2024.
In addition to developing BEV and hydrogen-related technologies to achieve carbon neutrality, Japanese automakers are also working to strengthen their HEV and PHEV technologies, which they see as important.
On September 6, 2024, the battery development and production plans of Toyota, Nissan, Mazda, and Subaru were approved by the Japanese Ministry of Economy, Trade and Industry (METI) as part of its plan for establishing a stable supply of batteries in Japan. Subsidies equivalent to approximately one-third of costs will be provided.
Toyota and Nissan will build new lithium-ion battery plants in Fukuoka Prefecture, while Subaru will build a new plant in Oizumi-machi, Gunma Prefecture. Mazda plans to receive supplies of cylindrical Li-ion battery cells from Panasonic Energy for use in future EV models.
Electric vehicle launch plans of seven Japanese OEMs
| Toyota | Toyota plans to develop new engines suitable for electrification, seriously consider CN (carbon neutral) fuel, and make a wide range of investments in BEVs, hydrogen, and software-defined vehicles. |
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| Honda | By strengthening its motorcycle and ICE/hybrid businesses, Honda will secure JPY 10 trillion in funds to invest in electrification and software areas through FY2030. |
| Nissan | Nissan will promote electrification, focusing on EVs and the e-POWER series hybrid, launch four PHEV models in fiscal 2025-2026, and launch the Juke Hybrid in the European market in the summer of 2024. |
| Suzuki | HEVs and CNG-fueled vehicles accounted for 43.0% of global sales in FY2023. Suzuki also announced a technology strategy to minimize energy use and reduce CO2 emissions to the utmost. |
| Mazda | Regarding BEVs, Mazda will adopt an "intentional follower" strategy (promoting the shift to EVs over a certain period of time). At the same time, HEVs and PHEVs will be enhanced. |
| Mitsubishi Motors | In a market where ICEs, HEVs, PHEVs, and BEVs are mixed, Mitsubishi Motors is working to enhance electrification in accordance with the conditions of each region, utilizing various partnerships. |
| Subaru | By the end of 2026, Subaru will have four BEV models jointly developed with Toyota in its product lineup, and a production organization will be established for mutual supply. The next-generation e-BOXER will also adopt a series-parallel hybrid system. |
The electrification plans of Nissan, Honda, and Toyota are summarized in the following reports. Additional and supplemental information is provided in this report.
Related reports:
Toyota: Developing electrification compatible engines with Mazda and Subaru (Aug. 2024)
Honda: Investing JPY 10 trillion in EVs and software by 2030 (Aug. 2024)
Nissan: New business plan "The Arc," cutting cost of next-generation EVs by 30% (May. 2024)
BeijingAuto China 2024: Japanese OEMs (May. 2024)
Plans by Japanese OEMs to Introduce Electrified Vehicles (Aug. 2023)
Related News:
Japanese government to support investment in EV batteries (Sep. 09, 2024)
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