Subaru already has three all-electric vehicles in its portfolio – the Solterra, the Trailseeker and the Uncharted (see above). However, all three are basically rebadged Toyotas. Up until recently, the company had intended to fix that with all-new EVs designed in the house – but something went wrong.
The report comes from Automotive News citing Subaru President Atsushi Osaki. Speaking in a recent interview, he admitted that the EV market was growing slower than the company had hoped – especially in the company’s key markets, like the United States. In order to prevent further losses, Subaru intends to slow down its EV development and cut the associated funding. Once a careful reassessment of the market is done, it may or may not revisit those plans.
Osaki refused to provide any specific availability dates or figures, but let it slip that the company was on track to losing an estimated $364 million from its EV pivot. The unspoken implication is that it was still preferable to pursuing the original plans.
In the meantime, Subaru is getting its fourth EV ready to rumble: the Getaway SUV. It’s based on the same underpinnings as the Toyota Highlander and packs 420 PS (414 hp / 309 kW). Everything suggests that it’s nearly ready for launch and won’t be affected by the change in strategy.