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Automobiles

Mazda in $10.6bn EV plan with battery maker Envision AESC

Japanese automaker rushes to secure parts critical to electric vehicle production

Mazda is one of many global automakers rushing to expand EV capacity.   © Reuters

TOKYO -- Japanese automaker Mazda plans to spend about 1.5 trillion yen ($10.6 billion) by 2030 to address its transition to electric vehicles, joining a rush by global carmakers to expand EV capacity.

The company will team up with Kanagawa-based Envision AESC Group, a major auto battery manufacturer owned by a Chinese company, to secure batteries and increase EV production at its plants in Japan, according to sources familiar with Mazda's plans.

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