The logo of Subaru Corp. is pictured at the 45th Tokyo Motor Show in Tokyo, Japan October 25, 2017. REUTERS/Toru Hanaiaims to build a dedicated electric vehicle factory in Japan in the late 2020s, it said on Thursday, as part of a $1.9 billion ramp-up to respond to surging demand for battery cars in its main North American market.
Subaru, known for its Outback crossover, has long had a strong presence in the United States and on Thursday warned that its U.S. dealers only have a record low stockpile of around 5,000 vehicles left, reflecting the squeeze of a supply-chain crunch. It plans to launch a mixed-production line of gasoline and electric vehicles around 2025 before opening an EV-only production line in the new factory after 2027, it said. The move would be a first for Subaru. Other Japanese automakers have yet to formally announce plans to build a dedicated EV factory.
Separately, Subaru reported a 12% drop in full-year operating profit to 90.45 billion yen . For the current financial year that began in April, it forecast operating profit of 200 billion yen, more than double the year just ended.Reporting by Satoshi Sugiyama; Editing by David Dolan and Edmund KlamannSubscribe to our auto newsletter to get the latest news that are driving the global automotive industry.