So intent is vehicle manufacturer Mazda on keeping pace with the green car race that it intends to raise $1.1billion through a share offering with $670million to be used for research and development of more efficient and safer vehicles.
The research and development costs at Mazda are expected to cost the company $3.3billion over the next three years ending in March, 2012 – this includes investment for environment and safety-related developments including a series of next-generation products. The products are expected to be based on improving the efficiency of the internal combustion engine as well as investment into the development of electric technologies including hybrid vehicles.
The remainder of the money raised will be poured into a capital investment plan which amounts to $1.7billion to March, 2012. This is put towards production capacity and a research and development facility which aims to bring about an early introduction of next generation products.
