Mitsubishi Electric, Mitsubishi Electric Mobility and Aisin will establish a joint venture to develop and manufacture powertrains for electric vehicles. This became clear from an official statement of the companies.
Mitsubishi's share in the new joint venture will be 66%, the remaining 34% will go to Aisin Seiki Co Ltd. A major shareholder in this auto parts company is Toyota Motor.
As reported, some of Mitsubishi Electric Mobility's businesses will be transferred to the new joint venture. It will produce drive motors, alternators and other components for hybrid and pure electric vehicles.
Mitsubishi Electric Mobility and Aisin independently manufacture a wide range of assemblies and components for electric vehicles and hybrids. The cooperation will allow to reduce the costs of their development and to reduce the costs of serial production due to the scale of production, as well as due to the development activity.