Tokyo, Japan-Mitsubishi Electric Corporation, Mitsubishi Electric Mobility Corporation, and AISIN Corporation have agreed to form a joint venture (JV) for next-gen electric vehicle products.
The JV will take over a portion of Mitsubishi Electric Mobility's operations, focusing on developing, manufacturing, and selling traction motors, power converters, and control software tailored for next-gen electric vehicles, including battery EVs (BEVs) and plug-in hybrid vehicles (PHEVs). By leveraging their strengths, the companies aim to meet the evolving demands of vehicle electrification and support global carbon neutrality efforts.
The Mitsubishi Electric Group brings expertise in power electronics, motor tech, and control optimization, while Mitsubishi Electric Mobility specializes in vehicle electrification, particularly for hybrid vehicles. Together, they aim to leverage their strengths, create synergies, and expand their product lineup to meet the growing demands of the rapidly evolving EV market driven by carbon neutrality initiatives.
AISIN offers a comprehensive range of electric units powering various EV types globally including BluE Nexus, enhancing overall vehicle power consumption and driving performance. With the rapid pace of vehicle electrification, influenced by regional energy dynamics and policies, the demand for diverse products and technologies continues to grow, spanning systems, performance, and cost considerations. AISIN commits to addressing these evolving needs by leveraging the development capabilities of the JV, rooted in AISIN's extensive technology development concepts, to further expand the variety and quantity of electric units available through BluE Nexus.
The JV will deliver innovative products to diverse customers by combining Mitsubishi Electric Mobility's traction motors, power converters, and control optimization with AISIN's integration technology.
The JV, initially spun off from Mitsubishi Electric Mobility, will oversee its electrification business through a company split. Mitsubishi Electric Group will hold a majority stake (66%), with AISIN as a minority shareholder (34%). Regulatory approvals are required for the Transaction's completion.
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