Mazda to shift R&D spending towards green cars

Mazda Motor Corp. will devote a larger proportion of R&D funding to the development of hybrids and other environmentally friendly vehicles, raising the ratio from just above 20% in Fiscal 2010 to roughly 40% in Fiscal 2015. Mazda is expected to spend an average of ¥100 billion (US$1.2 billion) on R&D each year through Fiscal 2015, and will increasingly push more of the pie toward eco-friendly vehicles. The company also intends to step up efforts to improve energy efficiency for gasoline-powered vehicles, such as a compact sport utility vehicle with a new engine that is 10% more efficient than those in existing models. Mazda also plans to start manufacturing and selling a hybrid by 2013. (October 7, 2010)