The alliance partners, together with Mitsubishi, are expected to launch more than 30 new full-electric models by 2030 on five common platforms and invest more than $23 billion on EVs.

By 2029, just 14 percent of Toyota’s worldwide production is forecast to be full-electric, rising to 18 percent for Honda and 22 percent for Nissan, according to research released from climate think tank InfluenceMap.

Subaru's outlay shows the all-wheel drive specialist is finally turning its focus to full-electric vehicles after introducing its first serious contender, the Solterra crossover, only this year.

Selling part of its 43 percent stake in Nissan could raise billions and ease long-standing tensions between the alliance partners.

Toyota CEO Akio Toyoda said the automaker was still pursuing a multi-pronged, carbon-reduction strategy that also includes hybrid cars and hydrogen-powered vehicles.

While Tesla has led the development of the global EV market, the two giants of automaking are determined to defend their dominance.