Mazda Delays First EV on Own Platform to 2029, Cuts EV Investment, Shifts Focus to Hybrids and China-Made Models

Mazda announced a further slowdown in its electrification strategy, delaying the launch of its first EV based on a dedicated in-house platform to 2029—two years later than originally planned. The company also reduced its electrification investment budget through 2030 from 2 trillion yen to 1.2 trillion yen. This strategic adjustment is primarily driven by factors including U.S. tariff policies, relaxed fuel economy standards, declining global EV subsidies, and unstable market demand. Mazda stated that because the strategic shift was implemented before significant capital expenditures were made, it has not incurred any asset impairment losses related to factories or equipment. The company is reallocating resources toward the development of internal combustion engine (ICE) and hybrid vehicles. It plans to introduce three new hybrid models between 2028 and 2030, featuring its proprietary hybrid system paired with the Skyactiv-Z four-cylinder engine, and will launch a next-generation CX-5 hybrid variant next year. To meet EV demand in select overseas markets, Mazda will increasingly rely on electric vehicles co-developed with China’s Changan Automobile, including the EZ-6 and EZ-60, which are already being exported to Europe and will soon be sold in Australia and Southeast Asia. Mazda has now designated its China operations as the global export hub for its electric vehicles.