Toyota | Mazda | Denso Form Joint Venture On Electric Cars Photo:

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278 | Sep, 29 2017 | 0 Comments

A trio of Japan’s biggest names in the automotive industry has joined forces to further development on electric cars.

Two carmakers - Toyota and Mazda - have linked with parts giant Denso to sign a “joint technology development contract”.

The aim of the joint operation is to reduce costs and speed-up development, with projects including passenger vehicles, SUVs and even light trucks.

The trio will go as far as establishing a new company, called the EV Common Architecture Spirit Co. Ltd.

Toyota is the granddaddy with 90 percent ownership, while Mazda and Denso hold five percent each. The new company gets 40 employees straight up, including selected engineers from the three concerns.

Toyota Prius Prime
Toyota Prius Prime

"We regard electric vehicles as a key technological field [alongside] fuel-cell vehicles," Toyota said in a statement.

"With EVs yet to find widespread market acceptance, the huge investments and time required to cover all markets and vehicle segments is a pressing issue for individual automakers when responding to the widely varying demand for vehicles around the world.”

Toyota added that innovative solutions to the development process would be a key focus, with each participant playing to its strengths.

But customers can expect at least a few ‘common’ parts to come from the joint venture, as carmakers are increasingly forced to lift EV sales to satisfy collective emissions targets.

Further, the trio (much like Tesla with its open book on patents) is encouraging other carmakers to join them.

MORE: Mazda And Toyota Pair Up For EVs, Connectivity, Production And More
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