Toyota and Mazda have entered into a new joint venture with automotive technology company Denso to develop new electric vehicles.
The deal has resulted in the creation of a new company called EV common architecture Spirit, which is made up of full time engineers from each of the three companies. Toyota owns a 90 per cent stake in the new company, while Mazda and Denso take five per cent each.
Advertisement – short article continues below
• best electric automobiles on sale
With numerous countries and regions clamping down on internal combustion engines to help decrease emissions, the deal has been struck in reaction to the growing appetite for electric vehicles.
The new company has confirmed it will develop a broad range of battery-powered models including Japanese micro cars, conventional passenger vehicles, SUVs and light trucks. The company has also claimed it will “ensure flexible and rapid reaction to market trends”.
As Toyota holds many of the power within EV common architecture Spirit, its new TNGA platform – which underpins models such as the Prius and CH-R – will form the basis for numerous of the new EVs. However, each electric car produced will be developed so that it is recognisable as a Mazda or Toyota.
The new company remains open to the idea of the future involvement of other producers and suppliers.
What do you make of the deal between Toyota, Mazda and Denso? tell us below!