Mazda to Cut Spending on EV Development

Tokyo, March 18 (Jiji Press)--Mazda Motor Corp. said Tuesday it will cut its spending on electric vehicle development through 2030 by 500 billion yen to 1.5 trillion yen by pursuing joint development with other companies.

The Japanese automaker’s EV spending plan totaled 1.5 trillion yen when it was announced in 2022 but was later boosted to 2 trillion yen because of higher inflation.

Mazda will halve its spending on automotive batteries from over 750 billion yen by developing EVs for markets including Southeast Asia with Chinese joint venture partner Changan Automobile Group.

The company will also promote joint development of advanced driving technology with Toyota Motor Corp. and Japanese auto parts maker Denso Corp.

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