After outlining a plan earlier this year to offer hybrid vehicles by the 20-teens, Mazda has announced a financing plan to achieve that goal. Mazda, Japan’s fifth-largest automaker, will issue up to $1.1 billion in new shares to finance its hybrid initiative.
Mazda has largely steered clear of the hybrid market – instead relying on improvements to the internal combustion engine – but will fully embrace hybrid technology as it moves towards compliance with upcoming emissions regulations in the United States and Europe.
According to Reuters, Mazda will raise up to $1.1 billion for hybrid development from the issuing of 315.2 million new shares and the sale of 96.8 million treasury notes.
Although the move is expected to negatively impact Mazda’s share prices in the short-term, the mid- and long-term outlooks appear to be good for the Japanese automaker. Mazda has lagged behind its cross-country rivals in hybrid technology for several years now, but the boost in hybrid funding should allow Mazda to near equal footing. No word on when Mazda’s first hybrid vehicle will debut, but the automaker has set the goal of reducing its emissions by 30 percent by 2015.
10/05, 11:19 AM
posted by:
A4
DIESEL you idiots!
10/05, 11:23 AM
posted by:
The Stig
Coming late to the table and with the wrong technology.
10/05, 11:35 AM
posted by:
wakeNbake
Seriously, if you’re gonna develop a hybrid now, make it a diesel hybrid. Duh!
10/05, 11:47 AM
posted by:
05Z88Path
Rotary hybrid? My head is spinning!
10/05, 2:38 PM
posted by:
johnnycanuck
Can someone pinpoint exactly when what used to be the most original and innovative of all the Japanese manufacturers jumped the shark? I think it goes all the way to back to the second generation RX-7. All I know is as a former owner that’s about when I began to lose interest.
10/05, 3:09 PM
posted by:
leftwingagenda
if you keep crowing about diesel, yet don’t fully understand why it isn’t more widely adopted here in the states, perhaps you’re just uninformed…just think, maybe there are actual reasons why diesel isn’t popular here…maybe it isn’t just the perceived idiocy of others, as you folks are so likely to believe…ignorance isn’t a good basis for flaming…
10/05, 3:09 PM
posted by:
Borat
This is a living proof that corporate stupidity is not isolated US disease. They going to screw up existing share owners by diluting the value of original investment (as it is not in the toilet already) for sake of hybrid, which they may or may not sell against market leader.
10/05, 3:13 PM
posted by:
Borat
Lefty food for thought: during W administration EPA improved diesel quality 1000%. From 500 sulfate particles to 50. Which was on par with Euro spec diesel for almost 2 years; they are now on 15 particles. If we would have better quality diesel fuel, we could have diesel technology in less expensive and more popular form.