Toyota, Mazda, Denso agree to jointly launch EV tech firm
Sep 28, 2017 Kyodo
Toyota Motor Corp., Mazda Motor Corp. and Denso Corp. plan to jointly launch
a new company to develop base technologies for use in electric vehicles,
sources close to the matter said Thursday.
Last month, Toyota and Mazda agreed to form a capital tie-up to strengthen
cooperation in areas including electric vehicle development, while
announcing a plan to begin building cars together in the United States.
By adding auto parts maker Denso, part of the Toyota group, the new firm to
be launched by the Japanese entities will aim to make parts that can be used
in various types of cars. The addition will also help reduce the costs
shouldered by each.
Under the agreement, Toyota will take a 5.05 percent stake in Mazda for ¥50
billion ($442 million) and Mazda will buy a 0.25 percent stake in Toyota
equivalent in value to the Mazda shares.
[© Japan Times]
Toyota and Mazda establish a new company for electric cars
10/18/2017 Marc Carter
Toyota, Mazda and Denso have signed a new partnership through which they
will jointly establish a new company for the development of electric cars.
Neither Toyota nor Mazda offer any fully electric vehicles in their lineup
yet, so the new partnership will give both automakers the basic structural
components for EVs.
For automakers to survive the changing automotive industry, they need to be
able to produce several types of powertrains, including electric and fuel
cell vehicles. Toyota, Mazda and Denso have decided to team up for better
capability of developing electric technology that can be applied to a
variety of vehicles, improving their response time to the changing market
The new company, called EV Common Architecture Spirit Co Ltd. will leverage
Mazda’s product planning and computer modeling-based development, Denso’s
electronics technologies, and the Toyota New Global Architecture platform.
The TNGA platform is already used by models like the 2018 Toyota Camry and
the latest-generation Prius. Toyota will own 90 percent of the company,
while Mazda and Denso will each have a 5 percent share. The new agreement
covers a diverse range of models, from mini vehicles to passenger vehicles,
SUVs, and light trucks.
Toyota and Mazda are both behind most other automakers, since neither of
them have focused on fully-electric vehicles. Toyota has focused its
energies on hybrid powertrains, while Mazda continues to focus on improving
the internal combustion engine. With countries now mandating zero-emissions
vehicles, the partnership will not only help both automakers catch up to
their competitors, but also bring new electric cars to market sooner. Mazda
has already announced that it will introduce electrified powertrains as
early as 2019.
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