6/2/2014

Japanese EV Makers Form Charge Network Venture

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Honda, Mitsubishi, Nissan and Toyota have formed a company Nippon Charge Service LLC to promote the installation of electric vehicle charging stations in Japan.

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Honda, Mitsubishi, Nissan and Toyota have formed a company Nippon Charge Service LLC to promote the installation of electric vehicle charging stations in Japan.

The four carmakers agreed last November to identify shopping centers, restaurants, hotels and other sites for charging stations and pay for their installation costs through direct financial support and government funds. Development Bank of Japan Inc. is investing 80 million yen ($785,000) in the new venture.

Nippon Charge Service will manage the recharging units. Each participating carmaker will buy usage rights to the network and issue charging cards to its EV and plug-in hybrid customers.

The companies have not publicly announced how many charge stations they intend to install, but they do expect the initial network to be operational by the end of 2014.