Toyota, Mazda link arms on EVs

Toyota and Mazda have formed a partnership to develop electric vehicles.

Automotive components company Denso is the third party in the joint venture with the mission to develop basic structural technologies for EVs.

The trio will develop several models together, establishing a new company to produce mini-vehicles and passenger cars, SUVs and even light trucks to widely cover the popular range of body style, and create a smooth, rapid introduction to market.

The new company, EV Common Architecture Spirit Co. Ltd, will be 90% owned by Toyota, the most prominent hybrid vehicle manufacturer, while Mazda and Denso will receive a 5% stake each.
“We regard electric vehicles as a key technological field in this process alongside fuel-cell vehicles,” Toyota says.

“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 carmakers when responding to the widely varying demand for vehicles around the world,” Toyota adds.

The team of 40 employees will likely contribute to the same Mazda-Toyota arrangement announced in August that will see the two carmakers develop electric cars and advanced safety technology.