Subaru to Add Electric Versions of Existing Models

Tokyo, May 22 (Jiji Press)--Subaru Corp. <7270> plans to add electric versions of its existing vehicle models, rather than develop all-new electric models, Yasuyuki Yoshinaga, president and chief executive officer of the Japanese automaker, said in a recent interview. "It would be better to add electric versions to existing models," Yoshinaga said. "They will be eco-friendly vehicles that are typical of Subaru," he said. "There are some people who like the XV but will not buy (the Subaru sport-utility vehicle) unless it is an electric vehicle," Yoshinaga said. Subaru plans to launch plug-in hybrid vehicles in 2018 and electric vehicles in 2021 to meet tighter environmental standards globally. The automaker is expected to include electric vehicles in its lineup when it fully remodels its mainstay models. The company expects to post a 0.2 pct decline in its operating profit for the year through March 2018 from the previous year due chiefly to its record-high research and development budget of 134 billion yen, as automakers are racing to develop eco-friendly vehicles and self-driving technologies. Yoshinaga stressed that "we will do what is necessary, not spruce up immediate earnings." "We'll continue to refine Subaru-brand vehicles so customers buy them if they are tens of thousands yen more expensive than rivals," he said. END