Toyota, Mazda, and Denso Form Partnership to Build EVs

By Ray Prince Mazda, Toyota, and parts maker Denso have created a new company to accelerate the production of electric vehicles, expand synergy, and catch up with its rivals in the electric arms race.
Called EV Common Architecture Spirit Co Ltd, the new company will bring together budgets and expertise to develop technology for all types of electric cars, including SUVs, sedans, and light trucks. Regarding equity participation, Toyota will assume a 90 percent stake and commit to most of the funding, with Mazda and Denzo each taking 5 percent, according to Toyota.
This news follows an earlier August partnership with Toyota taking on a

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