Electric vehicle laggard Mazda will invest 1.5 trillion yen ($10.6 billion) into electrification through 2030 with new partnerships targeting everything from batteries and motors to computer chips in an attempt to catch up in global race for new technologies. The plan could include EV production in the U.S. as early as 2026-2027, the second phase of the company’s just-updated mid-term business plan, CEO Akira Marumoto said.
Under the strategy, Mazda will partner with Envision AESC Group, a Chinese-owned battery maker that also has investments from Nissan.
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