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Toyota, Mazda, Denso Join Forces for EV Development

New joint venture designed to produce new technologies.

by on Sep.28, 2017

Toyota, Mazda and Denso created a new joint venture to develop electric vehicle technology.

Toyota Motor Corp is setting up a new venture with Mazda Motor Corp. and Denso to develop electric vehicle technology for what has become a worldwide race to develop electric vehicles to meet demands for cleaner air.

Toyota is putting up 90% of the capital for the new venture, EV C.A. Spirit Co. Ltd. Denso and Mazda will put 5% each. The new venture will be based in Nagoya, Toyota’s home base in Japan. Denso is one of Toyota’s most trusted suppliers of sophisticated components, including electronics.

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The venture will be staffed by selected engineers from the three companies to ensure the efficient implementation of the joint technological development projects, according to a statement released by Toyota. (more…)