Subaru has dropped 2028 as the target year for launching its own in-house developed electric vehicles, with no new timeline set. The Japanese automaker’s new EV factory will produce gas and hybrid models instead.

 

The decision comes after Subaru’s operating profits collapsed 90% for the fiscal year, with tariffs alone costing the company roughly ¥229 billion ($1.4 billion) and EV-related write-downs adding another $385 million in losses.