World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Toyota: Investment In E-Mobility Power

Toyota City, Japan, Apr 5, 2021 - (JCN Newswire) - e-Mobility Power, Inc. (e-Mobility Power), the equity holders of which are Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) and Chubu Electric Power Co., Inc. (Chubu Electric), entered into an absorption-type corporate division agreement with Nippon Charge Service, LLC(1) (NCS) on February 5, 2021 under which e-Mobility Power assumed the electrified vehicle(2) charging service business and charging network business operated by NCS effective April 1.

Seven companies comprising TEPCO HD, Chubu Electric, four automakers--Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation--and the Development Bank of Japan Inc. today subscribed to a total of 15 billion yen of e-Mobility Power shares through a third-party allotment of new shares with TEPCO HD and Chubu Electric increasing their stakes, and the four automakers and the Development Bank of Japan making new investments to establish e-Mobility Power's new shareholder composition.

e-Mobility Power will use the construction, servicing, and maintenance technologies and electric infrastructure operation know-how acquired by TEPCO HD and Chubu Electric through their electric power businesses and the development and international standardization knowledge accumulated by TEPCO HD through the CHAdeMO Association(3) to expand and enhance the charging network of approximately 21,700 chargers(4) nationwide assumed from NCS, and to provide a highly convenient and reasonably-priced charging environments to households and corporate customers through a cooperative structure made up of the electric power companies, the four automakers, and the Development Bank of Japan. By doing so, e-Mobility Power will promote the popularization of electrified vehicles and contribute to the creation of a carbon neutral society.

(1) NCS was established in May 2014 for the purpose of building a highly convenient charging network service. Its shareholders were Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., Mitsubishi Motors Corporation, Development Bank of Japan Inc., TEPCO Energy Partner, Inc., and Chubu Electric Power Co., Inc.

(2) Battery electric vehicles and plug-in hybrid electric vehicles.

(3) An association that develops technology and maintains standards for CHAdeMO, the global fast charging standard. The world's leading charger manufacturers are members, and approximately 50 manufacturers have launched CHAdeMO charging devices. As a result, CHAdeMO chargers are installed in about 90 countries worldwide and about 35,600 quick chargers are being used by electr

© Scoop Media

 
 
 
World Headlines

 

UN Agency: Thousands Flee Fresh Clashes In Central African Republic

Recent fighting between government forces and rebels in northern Central African Republic (CAR) has forced more than 2,000 refugees into neighboring Chad over the past week, the UN refugee agency (UNHCR) said on Tuesday. According to the agency, ... More>>

UN Chief: World On The Verge Of Climate ‘Abyss’, As Temperature Rise Continues

The Earth’s temperature continues to rise unabated, with 2020 being one of the three warmest years on record, as extreme weather events combine with the COVID-19 pandemic, impacting millions. According to the World Meteorological Organization’s ... More>>

Covid: 250 Groups Urge WTO Chief To Ditch Pharma-Friendly Approach And Embrace Vaccine Patent Waiver

by Jake Johnson, staff writer An international coalition of 250 civil society groups on Tuesday urged the head of the World Trade Organization to embrace a temporary suspension of coronavirus vaccine-related patents, warning against pursuit of a voluntary ... More>>

Focus On: UN SDGs

C40: UN Secretary-General's Remarks To Meeting With Leading Mayors Supported By Cities

UN Secretary-General's remarks to Meeting with Leading Mayors Supported by C40 Cities: “Advancing a Carbon-Neutral, Resilient Recovery for Cities and Nations” 16 April 2021 Thank you for joining me today, and for your commitment and leadership. Cities ... More>>

Awake At Night: S3-Episode 21: There Is Hope

Brazzaville visit to CSI Pilote du Diabete with Health workers at a local government clinic. 2018 - Photo: ©CSI/Dr. Soumya Swaminathan 'When it comes to a pandemic, it really needs global collaboration and solidarity because the pathogens and viruses More>>

UN: Growing Calls For Revamping Development Financing To Ensure Sustainable Global Recovery From COVID-19 Pandemic

Forum to highlight new initiatives to tackle inequalities exacerbated by pandemic With many economies reeling as a result of the COVID-19 pandemic, and as inequalities continue to widen, world leaders will discuss options to unlock concrete investments ... More>>