Toyota and Subaru hope to launch jointly developed electric vehicle as early as 2021
Toyota Motor Corp. and Subaru Corp. have started jointly developing a new electric car, aiming to put it on the market possibly in 2021, sources said Monday.
The joint production of a midsize car is an expansion of their collaboration in recent years in the development of basic EV technology.
Subaru, of which Toyota is a top shareholder, is set to freeze its own EV development project due to the large cost of going it alone, deciding to gain experience from working with Toyota first, according to the sources.