Toyota Forms Electric Vehicle Joint Venture

By [email protected] (tsport100) Toyota Motor Corporation has formed a joint venture with Mazda Motor Corporation and Denso Corporation to develop basic structural technologies for electric vehicles (EVs) with a view to reducing costs and lead times. The three companies are establishing a new company that will develop a diverse range of models, from mini-vehicles to passenger vehicles, SUVs and light trucks to ensure flexible and rapid response to market trends. Called the EV Common Architecture Spirit Co. Ltd, the new company will be owned 90 per cent by Toyota while Mazda and Denso will each have stakes of five per cent. Toyota, Japan’s

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