[WATCH] Subaru And Toyota Show Off First Electric Vehicle With Futuristic Crossover Concept

Following the announcement by Subaru (FUJHY) and Toyota (TM) about a new venture to produce electric vehicles together, the automakers have shown off their first co-developed EV with an electrified crossover.

The partnership between Subaru and Toyota was expected to yield a new electric vehicle before 2025, and this seems to be the first glimpse of it from the two automakers. The yet-to-be-named crossover has a futuristic design that was captured in a video walkaround by LoveCars!TV!

Subaru showed off the electric vehicle at an event in Tokyo, Japan, where the company also discussed its EV strategy for the future.

While other automakers have been aggressive in their approach to electric vehicles, Subaru said that it plans to have 40% of its global sales made up of hybrid or electric vehicles by 2030, Car and Driver reported.

Subaru also said it is looking to offer a full lineup of electric vehicles 15 years from now, which the company told the news outlet, “does not mean we will [offer] full electric vehicles only."

Subaru CEO Tomomi Nakamura confirmed the automakers EV plans, saying at the event that “I think that the market for electrified vehicles will take some more time to form in the U.S. Only Tesla's EVs are selling well. But I think a trend toward electrified vehicles will emerge, without doubt, so we would like to make preparations for that."

The electrified crossover from Subaru and Toyota is reportedly expected to arrive in 2025.

Shares of Subaru stock were down 0.47% as of 9:50 a.m. EST on Thursday while shares of Toyota stock were up 0.72% at the same time.