Mazda plans on raising $1 billion through a sale of its shares to fund a build in hybrid cars, the FT reports.
Mazda only offers one hybrid car, and it’s based on a Ford hybrid. About two thirds of the money will go towards developing Mazda’s own hybrid offering.
Not having a hybrid hasn’t hurt the company all that much, though. It returned to an operating profit last quarter, and is expected to see its business bounce back by the middle of next year.
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