Toyota, Subaru and Mazda commit to new engines geared towards electrification
) said they had committed to developing new engines geared towards electrification and cutting carbon emissions, the three said in a joint statement on Tuesday.
The planned engines are intended to be smaller in size and will allow for lower car hoods, improving performance, the three said. To this end, Toyota, the biggest automaker in the world by sales, saw a stellar performance in 2023 on the back of increased demand for its hybrid offerings, which the firm had pioneered over two decades ago with its Prius models.
Japanese automakers have remained largely skeptical of fully electric vehicles, with Toyota in particular leaning further into its hybrid technology. The firm owns stakes in both Subaru and Mazda, and also supplies the two with engines.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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