REPORT: Mazda looking to raise $1.1B to catch up in hybrid race
by Jeremy Korzeniewski on Oct 5th 2009 at 4:29PM 
2009 Mazda Tribute - Click above for high-res image gallery
According to a report from Reuters, Mazda plans to raise up to $1.1 billion (95.9 billion yen) by issuing 315.2 million new shares and selling 96.8 million treasury shares. The resulting funds are to be reinvested in the company, mainly for research and development into hybrids and other eco-friendly technologies.
So far, Mazda's only hybrid has been a version of its Tribute crossover utility vehicle, which was in reality little more than a badge-engineered version of the Ford Escape Hybrid. Last year, Ford reduced its stake in Mazda to 13.8 percent, meaning that the Japanese automaker will longer be able to rely on the Blue Oval for gas-electric expertise, so it needed to make its own independent investment into new technologies.
Back in April, Mazda announced plans to boost the fuel efficiency of its fleet of cars and trucks by 30%, and that laudable effort will begin in 2011 with a new fuel efficient version of its bread-and-butter 2.0-liter four-cylinder engine and six-speed automatic transmission. Well, now we know how all this newfangled Sustainable Zoom Zoom stuff will be paid for.
Gallery: Mazda Tribute Hybrid SUV
[Source: Reuters]
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Reader Comments (Page 1 of 1)
RemusRM 4:36PM (10/05/2009)
please mazda do not... just get some diesels in and that is all... do not belive the hybrid hype... please
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paul34 6:55PM (10/05/2009)
They could care less about the "hype." They're a business; all they care about is moving more units. And regardless of whether it is better than a comparable diesel, people will gravitate towards the "hybrid" badge. Well, except for people who read this blog.
Temple 7:05PM (10/05/2009)
..please Mazda do not... listen to business advise from comment section of blogs...please
TonyInMI 4:50PM (10/05/2009)
What they can't get free money from the government (loans: LOL)? Somebody should be sued!
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tanooki2003 4:11AM (10/06/2009)
I think this is another case of someone not thinking before they make themselves look foolish on this form yet again.
TonyInMI 11:53AM (10/06/2009)
Nope.
Jonathon 4:58PM (10/05/2009)
I was under the impression that very little about Ford/Mazda's component sharing was going to change...
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Clavius 5:08PM (10/05/2009)
Same here. From my understanding even though Fords stake was less they would still share components since both are entwined what with the Festa/Mazda2 and Focus/Mazda 3 and so on with platform sharing. Curious if maybe Mazda believes it can do better than what Ford has done. Though a high mpg Mazda 6 along the lines of the Taurus would be nice. :)
tifosiotaku 6:45PM (10/05/2009)
That is not a hybrid, it's just a tribute.
http://www.youtube.com/watch?v=hEHU7Nv_alE&feature=player_embedded
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Truth 9:08PM (10/05/2009)
Mazda approaching hybrids/electric cars is infact absolute correct. Mazda catching up with hybrids research is a must. It allows mazda to creat a safety net/back up plan IF their engines, weight reduction, hydrogen engine and increase aerodynamic are up to par in the future. Also, no one can EXACTLY which is the future fuels. It can be either hydrogen technology or electric technology. So Mazda's decision is to protect its chance of survival. Correct me if im wrong.
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turbo-quattro 11:53PM (10/05/2009)
i read this title and hoped mazda was going to have a bake sale
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epilonious 9:39AM (10/06/2009)
Part of me hopes they make some sort of awesome hybrid rotary.
Smooth as silk, more efficient, and suddenly with massive low end torque from a helpful electric motor of some kind.
Then again, if they manage to make Direct Injected Everything for their 4 and 6 pots, and bring over more of their deisels.... *squee*.
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