byBusiness wire

December 20,2024

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Toyoda Gosei Acquires Stake in EV Motors Japan, a Startup Developing and Selling Commercial Electric Vehicles

Toyoda Gosei Co., Ltd.
Contact: Public Relations
inquiry@mlist.toyoda-gosei.co.jp

Toyoda Gosei Co., Ltd. (TOKYO:7282) has acquired* a stake in EV Motors Japan Co., Ltd. (EVM-J), a startup engaged in the development and sales of commercial electric vehicles such as trucks and buses.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241219497079/en/

Commercial EV developed and sold by EV Motors Japan (Photo: Business Wire)

The commercial EVs developed by EVM-J achieve lower power loss during acceleration and deceleration, longer driving range, and reduced battery load for longer battery life with an originally-developed, high-efficiency motor control system. As EVM-J develops a production network in Japan, the company is also building Japan’s first mass production assembly plant for commercial EVs in Kitakyushu City annexed with Zero Emission e-PARK, a complex where all aspects of EVs can be experienced.

As the structure of the automotive industry changes with the advance of CASE, Toyoda Gosei aims to grow sustainably through the cultivation of new business fields and business innovation. As one part of this effort, the company acquired a stake in EVM-J to learn on site the entire series of processes from development to manufacture of EVs through personnel exchanges with EVM-J and through other collaborative activities, and expand its knowledge of new mobility.

* Toyoda Gosei acquired a stake in EVM-J in November 2024 through its Corporate Venture Capital Dept., an internal organization dedicated to these investments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219497079/en/