Mazda Motor Corp.’s (OTC:MZDAY) global CEO, Masahiro Moro, expects that electric vehicles (EVs) will make up between a quarter and 40% of the automaker’s global sales by the end of the decade.
What Happened: In a recent interview with Automotive News, Moro, who took over as global CEO of Mazda Motor Corp. this past June, discussed the company’s future direction. He attributes the brand’s current positive trajectory, with record-breaking U.S. sales, to his previous position as the head of Mazda’s North American operations where he promoted larger, platform-specific vehicles that are now driving growth.
On the trajectory of EV sales in the future, Moro said, “Everyone is scaling back investment or pushing back timelines.”
The next hurdle for Moro is to oversee the launch of Mazda’s first dedicated electric vehicle platform and the transition towards 2030. This shift is expected to result in electric cars accounting for up to 40% of Mazda’s global sales.
Moro also elaborated on Mazda’s strategy to collaborate closely with its partner, Toyota, on software and electrical infrastructures. The aim is to create a smarter, more socially connected battery EV, with software playing a key role. Almost 90% of the software will be similar to Toyota’s, including the operating system and hardware.
Moro said on the collaboration, “It’s much more efficient because the software is going to the base for many products going forward.” He said, “There are many things an individual company can’t do alone.”
He also provided some insight on Mazda’s new EV platform, expected to debut between 2025 and 2027. The details of the platform are still being fine-tuned in response to evolving regulations and policies. Moro also pointed to the financial unpredictability surrounding the demand for electric vehicles, suggesting that Mazda might initially take a more conservative approach to scaling up.
According to the CEO, Mazda plans to design and manufacture the EV in Japan during Phase 2, from 2025-2027. He also expressed interest in initiating North American production in Phase 3, from 2028 onwards. By 2030, Mazda intends to have seven or eight battery EV models worldwide.
Why It Matters: Mazda’s announcement comes as many Americans remain hesitant about transitioning to electric vehicles, as highlighted in a recent survey conducted by Yahoo Finance and Ipsos.
Notably, other major players in the EV market, such as Tesla Inc have experienced fluctuations in sales, as seen with Tesla’s China sales drop in November.
Similarly, General Motors and Ford Motors have dealt with their share of EV difficulties, including supply chain disruptions and weakened demand.
Despite these challenges, Mazda’s aggressive push towards EVs could potentially position the company as a strong contender in the growing global EV market.
Photo Courtesy: Chatchai Somwat On Shutterstock.com
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