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Mitsubishi Electric, Aisin to Jointly Make EV Components

Mitsubishi Electric, Aisin to Jointly Make EV Components

   Tokyo, May 24 (Jiji Press)--Mitsubishi Electric Corp. and Aisin Corp. said Friday they have agreed to set up a joint firm to make components for hybrid and electric vehicles.
   They plan to launch within a year the new firm, which will be 66 pct owned by the Mitsubishi Electric group and 34 pct by Aisin, a major auto parts supplier of the Toyota Motor Corp. group.
   Taking over vehicle electrification operations from Mitsubishi Electric Mobility Corp., Mitsubishi Electric's wholly owned auto equipment unit set up in April, the joint company will chiefly develop and produce motors and inverters to control the motors.
   "We wanted to team up with a company having a technical edge in control optimization," Mitsubishi Electric Mobility President Kunihiko Kaga told Jiji Press the same day.
   He also noted his company will stick to the vehicle electrification business, denying its sale to a third party.

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AFP-JIJI PRESS NEWS JOURNAL


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