Mazda Is Already Behind On EVs. Now, It's Delaying The Next One In Favor Of More Hybrids

"Mazda was supposed to launch its first long-range EV next year, but it just kicked the can down the road, with the EV now planned for 2029 or later. Not only is it delaying the project, but its CEO also admitted that the company had not taken any major steps toward production of the EV before the change of plans. Mazda has to balance its need to develop next-gen EVs with a slower-than-expected transition in the U.S. and a much smaller cash pile than its competitors."

"It has launched just one EV in America, the MX-30, which launched in 2021 with specs you'd have expected to see in 2011: 100 miles of EPA range for $35,000. Unsurprisingly, it died in our market within two years. The company therefore needs a real, long-range EV on a bespoke platform. It was supposed to deliver one in 2027. But, as Automotive News reported first, the company has delayed it another two years, say it will arrive in 2029 at the earliest."

"Did we have to impair or write off any facilities? We have not, Moro said May 12 during an earnings call, per Automotive News. We made the decision before we started. For battery EVs we were always careful. The Mazda MX-30 was a short-lived EV with only 100 miles of EPA range. It's still the best Mazda has offered in our market. I'm going to emphasize that: "We made the decision before we started.""

Mazda planned to launch its first long-range EV next year, but the target moved to 2029 or later. The delay came with an admission that the company had not taken major steps toward production before changing plans. Mazda must develop next-generation EVs while facing a slower U.S. transition and less available cash than competitors. The company has launched only one EV in America, the MX-30, which offered about 100 miles of EPA range for roughly $35,000 and ended in the market within two years. Mazda needs a real long-range EV on a dedicated platform, originally targeted for 2027 but now pushed back by two years. The CEO stated no facilities were impaired or written off because the decision was made before production began.

Read at insideevs.com