Aisin Seiki and Denso have reached a basic agreement to form a new joint venture company to develop and sell hybrid, fuel cell and electric vehicles.
The company will be capitalised with the participation ratio of Aisin at 50% and Denso at 50%.
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“The automotive industry is in an era of profound transformation, particularly in technologies for electrification, automated driving and connected driving,” said a Denso statement.
“Electrification is one of the key disrupters impacting the automotive industry. Companies need to accelerate the development of technologies that meet the needs of automakers and consumers and help maintain a sustainable society free from environment problems such as global warming, atmospheric pollution and resource and energy problems.
“Electrification requires a driving module package that integrates key components, such as transaxles, motor generators and inverters. This joint venture will develop and sell driving modules customised to meet performance, cost and regional requirements.
“Aisin and Denso will focus on driving modules for hybrids, plug in hybrids, fuel cell vehicles and electric vehicles, especially in China where the market for electric vehicles is expected to rapidly expand.”
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By GlobalDataDetails are still being discussed and the plan is for the new company to launch in March, 2019.
