|Tuesday, 28 August 2018, 09:53 HKT/SGT|
KARIYA, JAPAN, Aug 28, 2018 - (JCN Newswire) - Aisin Seiki Co., Ltd and DENSO Corporation have reached a basic agreement to establish a new joint venture company to develop and sell electrification driving modules. The company will be capitalized with the participation ratio of AISIN 50% and DENSO 50%.
The automotive industry is in an era of profound transformation, particularly in technologies for electrification, automated driving and connected driving. Electrification is one of the key disrupters impacting the automotive industry. Companies need to accelerate the development of technologies that meet the needs of auto makers 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 customized 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.
Details are still being discussed and the plan is for the new company to launch in March 2019. The collaboration of two companies will support their commitment to maintain sustainable society.
DENSO is a $48.3 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 221 facilities in 35 countries to produce thermal, powertrain, mobility, electrification, & electronic systems, to create jobs that directly change how the world moves. The company's 170,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.3% of its global consolidated sales on research and development in the fiscal year ending March 31, 2019. For more information about global DENSO, visit https://www.denso.com/global.
Aug 28, 2018 09:53 HKT/SGT
Topic: Press release summary
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