Mazda to harness partnerships to boost EV investment by £9bn

Mazda has hatched a plan to boost its investment in electric vehicles (EV) by almost £9 billion after forecasting that sales could be significantly more than previously expected.

The Japanese carmaker’s investments will ramp-up with the help of new joint venture MHHO Electric Drive to develop electric drive units, Mazda Imasen Electric Drive to develop inverters and MCF Electric Drive to develop EV motors.

In a presentation today (November 22), Mazda chief executive Akira Marumoto revealed the renewed focus was required after an upgrade of the brand’s projected EV sales to closer to up as much as 40% of its global production by 2030 – up from a previous estimate of 25%.