Toyota and Mazda have formed a strategic partnership to facilitate the development of electric vehicles alongside the Denso Corporation.
As part of an agreement signed today, the three companies have also decided to establish a new company – dubbed EV C.A. Spirit Co., Ltd – consisting of selected engineers from the three companies to ensure the efficient implementation of the joint technological development projects.
A statement issued by the new joint venture said: “Mazda, Denso, and Toyota have decided to jointly develop basic structural technologies for EVs capable of covering a wide variety of vehicle segments and types to ensure flexible and rapid response to market trends.
“This agreement covers a diverse range of models, from mini vehicles to passenger vehicles, SUVs, and light trucks, and aims to innovate the development process by combining the strengths of each company, including Mazda's bundled product planning and prowess in computer modelling-based development, Denso’s electronics technologies, and the Toyota New Global Architecture (TNGA) platform.”
An outline plan of the make-up of the new EV company formed as a result of the new agreement revealed that the Toyota Motor Corporation will contribute 90% of the venture’s 10 million Yen funding, with Mazda and Denso contributing 5% each, respectively.
The statement added: “Through this joint technological development project, by dedicating an equal amount of development resources, ensuring efficient development processes, and taking advantage of existing production facilities, Mazda and Toyota intend to focus their resources on fundamental vehicle values to enable the creation of appealing EVs that embody the unique identities of each brand and avoid the commoditization of EVs.
“The companies also aim to create a business structure that is open to participation by other automakers and suppliers.”
Early last month Toyota Motor Corporation and Mazda Motor Corporation announced the creation of a formal alliance which will see them collaborate on technology and manufacture vehicles together in the US.
The agreement was to be formalised by a share acquisition which would see Toyota’s shareholding in Mazda amount to 5.05% and Mazda’s shareholding in Toyota around 0.25%.
As part of the new alliance, Toyota and Mazda agreed to: establish a joint venture that produces vehicles in the United States; jointly develop technologies for electric vehicles; 3) jointly develop connected-car technology; 4) collaborate on advanced safety technologies; and 5) expand complementary products.