|Wednesday, 26 December 2018, 15:35 HKT/SGT|
KARIYA, JAPAN, Dec 26, 2018 - (JCN Newswire) - Aisin Seiki Co., Ltd. and DENSO Corporation (DENSO) have formally agreed to form a new company to develop and sell driving modules used for electric vehicles. The new company is named BluE Nexus and will be established in April 2019(1). In August 2018, AISIN and DENSO first announced their basic agreement to establish a joint venture.
Electrification requires a driving module package that consists of transaxles, motor-generators, and inverters, which are key components needed for both partially and fully electric vehicles. AISIN and DENSO will combine their strengths in electrification to develop a wide range of driving modules and sell them to automakers in Japan and throughout the world. Moreover, BluE Nexus will calibrate them for the diverse needs automakers have for hybrid vehicles (HVs), plug-in hybrid vehicles (PHVs), and electric vehicles(EVs).
These modules help automakers and consumers protect the environment against global warming, atmospheric pollution, resource and energy problems, and more.
(1) The establishment of this new company requires the approval of antitrust authorities.
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has approximately 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8% of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges.
For more information, please go to www.denso.com.
Visit our media website at www.denso.com/global/en/news/media-center/.
Sadayoshi Yokoyama, Toshiko Watanabe
Dec 26, 2018 15:35 HKT/SGT
Topic: Press release summary
From the Asia Corporate News Network
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