[InitialBP]

Mazda has been focused on continuing to improve internal combustion engines over the past couple of decades. Specifically, the "Skyactiv" technology they developed was built to help improve efficiency and emissions of modern ICE engines. It's likely Toyota wanted to have some group/company (like Mazda) continue working on improving ICE engines while also investing in EVs.

I think ICE vehicles will continue to have a market, especially in very remote areas of the world where power grids are non-existent or not very reliable.