toyota to form electric car technology venture with mazda
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Toyota to form electric car technology venture with Mazda

Arab Today, arab today

Arab Today, arab today Toyota to form electric car technology venture with Mazda

Toyota to form electric car technology venture with Mazda
TOKYO - Arab Today

Toyota Motor Corp. has established a new venture to develop electric vehicle technology with partner Mazda Motor Corp, seeking to catch up with rivals in an increasingly frenetic race to produce more battery-powered cars.
Policymakers in key markets like China are pushing a shift to electric cars over the next two to three decades, while relatively new rival Tesla Inc. is gaining momentum, pressuring traditional automakers to crank up plans for fully electric vehicles (EVs).
At the same time, declining battery costs are enabling more power to be packed into cars, making an electric car future easier to imagine.
Toyota said in a statement the new company will develop technology for a range of electric cars, including minivehicles, passenger cars, SUVs and light trucks.
Toyota will take a 90 percent stake in the joint venture, called EV Common Architecture Spirit Co. Ltd, while Mazda and Denso Corp, Toyota’s biggest supplier, will each take 5 percent.
The plans build on a partnership announced in August when Japan’s biggest automaker agreed to take a 5 percent stake in Mazda and two said they would jointly develop affordable electric vehicle technologies.
Although Toyota is providing most of the financial firepower and existing EV know-how, Mazda’s engineers have gained the admiration of the industry with break-through technologies such as its compression ignition engine announced last month.
Shares in Mazda surged to end the day 3 percent higher, while those in Denso rose 1.8 percent. Toyota shares were flat.
Both automakers are somewhat behind rivals, with neither having a fully electric passenger car on the market yet.
After years of focusing on bringing hydrogen fuel cell vehicles to the market, Toyota last year set up a division to develop electric cars which is led by President Akio Toyoda, and said it plans to introduce EVs in China in the coming years.
That division would continue as a separate entity from the new joint venture, a Toyota spokeswoman said, while adding that the two teams would co-operate on technology development.
Mazda has an R&D budget a fraction of Toyota’s, which has made it difficult to develop electric cars on its own. Even so, it has said it plans to launch EVs in 2020.
By comparison, Nissan Motor Co. has the world’s top selling electric car, the Leaf, and it and partner Renault SA expect electric models to account for 30 percent of their vehicle sales by 2022.
Competition from unexpected quarters is also heating up. Just this week, James Dyson, the billionaire British inventor of the bagless vacuum cleaner, said his company was working on developing an electric car to be launched by 2020.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

toyota to form electric car technology venture with mazda toyota to form electric car technology venture with mazda

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

toyota to form electric car technology venture with mazda toyota to form electric car technology venture with mazda

 



GMT 20:53 2018 Monday ,22 October

PM Imran Khan to leave for Saudi Arabia today

GMT 08:20 2018 Tuesday ,16 January

Lamborghini races to new sales record

GMT 00:19 2017 Wednesday ,13 December

Switzerland chainsaw attack: 5 hurt in Schaffhausen

GMT 09:51 2017 Tuesday ,07 November

Broadcom makes $130 bn mega-bid

GMT 20:53 2017 Tuesday ,07 March

Syrian forces retake Aleppo water-pumping station

GMT 11:15 2017 Monday ,01 May

Hanan Metawe reveals details of her accident

GMT 03:07 2017 Monday ,27 March

Bulgaria's Borisov bounces back again

GMT 22:18 2017 Thursday ,16 November

Hariri to arrive in France Saturday to meet Macron

GMT 06:43 2017 Monday ,13 February

Pakistan retaliates after US denies politician visa

GMT 07:49 2017 Tuesday ,28 November

Hussein Fahmy underlines financial sources
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday