Mazda’s initial foray into the electric vehicle (EV) market in the United States with the Mazda MX-30 crossover didn’t meet with resounding success. Sales figures tell the story, as between January and August of 2023, Mazda managed to sell only 100 MX-30s in the U.S., marking a significant 69% drop compared to the previous year. However, this less-than-stellar performance isn’t deterring Mazda from taking another shot, as reports from Nikkei Asia suggest the Japanese automaker could be making a return to the U.S. EV market as early as 2025.
Although there’s no official confirmation of the exact EV models Mazda plans to introduce, sources indicate that they will likely be based on existing car platforms and are expected to fall within the SUV category.
Mazda’s CEO, Masahiro Moro, acknowledged the challenges of making small EVs profitably, citing the high production costs associated with automobiles. “We are looking at a segment that will appeal to would-be EV buyers,” Moro stated. If Mazda’s sights are set on attracting U.S. EV buyers, it’s logical to assume that SUVs will be part of their strategy.
One notable detail to consider is that Mazda’s upcoming EVs will not qualify for the $7,500 federal tax credits available in the U.S. This is due to new regulations under the Inflation Reduction Act, which require the final assembly of EVs to be completed in North America for eligibility. Mazda’s forthcoming EVs will be manufactured in its Hofu, Japan plant, making them ineligible for this tax incentive. This could potentially put Mazda at a disadvantage compared to domestic competitors whose customers can benefit from these tax breaks.
Intriguingly, Mazda intends to build its new EVs on existing gasoline car platforms, deviating from the trend observed in many rival automakers. Competitors such as GM, Volkswagen, and Honda have embraced dedicated electric platforms, which tend to offer advantages such as reduced weight, improved interior dimensions, and more freedom for innovative, aerodynamic designs.
In 2022, EVs constituted just 1% of Mazda’s global sales. However, to achieve its target of having EVs make up at least 25% of its global sales, Mazda recognizes the importance of the U.S. market. Notably, the United States represents Mazda’s largest single market, accounting for nearly 30% of its global sales. To succeed in this market, Mazda will need to produce EVs with more substantial range capabilities, a crucial factor for American consumers.
