Automakers Mazda Motor Corp., Toyota Motor Corp., and auto-parts manufacturer Denso Corp. recently signed a contract to develop basic technologies for electric vehicles (EV), also agreeing to establish a company for the implementation of joint projects.
The partners will work to develop powertrains and technologies as nations worldwide implement laws regulating greenhouse gases. Under the contract, they will work on a variety of vehicle types.
The proposed new company will research the characteristics of EV optimum performance and functions, verify component installation and vehicle performance realized by the characteristics, and examine the optimum concept for each car.
The company will be called EV Common Architecture Spirit. Toyota will hold the largest stake, at 90 percent, while the other companies will each hold 5 percent.
The goal is “the creation of appealing EVs that embody the unique identities of each brand and avoid the commoditization of EVs,” Toyota said.
In August, Toyota purchased a 5 percent stake in Mazda, and the companies discussed developing EV technology. Neither automaker has an EV on the market, but Toyota, which has been focusing on hydrogen fuel cells, created an EV division in 2016 and plans to begin marketing the vehicles in China.