Denso, Mazda, Toyota Forming Company to Speed EV Development

September 28, 2017 at 2:24 AM

Toyota, Mazda and Denso have agreed to create a company to help the three companies implement electric-vehicle technologies they co-develop.

Called EV C.A. Spirit Co. Ltd., the company will be based in Nagoya and staffed by about 40 engineers contributed by all three companies. Denso and Mazda will each hold 5% stakes in the EV Spirit, with Toyota controlling the remaining 90%.

The new company extends an equity partnership announced in August between Toyota and Mazda to develop core EV technologies. The two say adding Denso, which is Japan’s largest auto components supplier, will help bring EVs to market more quickly.

The three companies say they will collaborate to create common architectures that transcend specific model characteristics. The goal is to define qualities that can be applied to a wide range of vehicle types and segments, while enabling carmakers to avoid producing lookalike products.