Report: Mazda To Raise $1.1 Billion for Hybird Research

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Mazda has announced plans to raise as much as $1.1 billion in capital to invest in hybrid technologies for future vehicles. The news comes roughly 8 months after the automaker laid out plans to improve the overall fuel economy of its vehicles through advancements to gasoline and diesel engines, as well as transmission improvements. Many of these technologies will debut on the Kiyora Concept, which will debut at the Tokyo Auto Show in just a few weeks.

With those advances well on their way to hitting the market in production vehicles over the next few years, Mazda is still playing catch-up in the fuel economy race. Much of this can be attributed to the fact that Mazda relied on Ford for hybrid technology. Roughly a year ago, however, Ford reduced its one-third controlling share in Mazda to just 13.8 percent – and the U.S. automaker isn't interested in sharing its impressive new hybrid technology.

Despite these challenges, Mazda is reasonably secure, having recently cut its forecasted net loss for the year in half. The company cites higher than expected sales and a stronger Euro for the boost.

More: Report: Mazda To Raise $1.1 Billion for Hybird Research on AutoGuide.com