Japanese oil refiner Idemitsu Kosan Company said it plans to launch its own electric vehicle (EV) this year, according to a report in the local Nikkei newspaper.
This would make Idemitsu the first non-automaker in the country to move into the local EV market, with local demand expected to soar due to favourable government policies and customer incentives. The Japanese government has stated it wants new sales of traditional internal combustion passenger vehicles to stop by 2035 and aims for Japan to become carbon-neutral by 2050.
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Idemitsu said it has agreed to establish a strategic partnership the local specialist vehicle manufacturer Tajima Motor Corporation to produce a four-seater battery-powered passenger vehicle to help meet local transportation requirements.
The vehicle will have a maximum speed of 60km and will be 2.5 metres long and 1.3 metres wide. It will be priced at between JPY1.0m and JPY1.5m (US$9,480-US$14,220). The cars will be marketed at petrol stations nationwide and among companies offering car-sharing services.
According to the reports, the new EV maker will source batteries from overseas to reduce costs.
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