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Mazda Says Iconic SP’s Future Hinges on Finances as EV Investment Takes Priority

The company is channeling resources into a bespoke EV platform after trimming its electrification budget.

Overview

  • Chief technology officer Ryuichi Umeshita said the rotary-electric Iconic SP is technically feasible, calling the financial case the only outstanding issue.
  • Mazda is developing a dedicated EV architecture slated to underpin its first model around 2027, pushing niche sports projects down the queue.
  • Reports indicate planned electrification spending has been reduced by roughly a third, variously framed as about £2.5 billion or around half a trillion yen.
  • Rotary work continues with a re-established development team and the Vision X Coupe concept, which pairs a turbocharged rotary with hybrid drive for about 503 hp.
  • Engineers target further emissions reductions that could enable the rotary to drive the wheels in two to three years, while a next-generation MX-5 is due later this decade.