Mitsubishi Electric Corporation, Mitsubishi Electric Mobility Corporation, and Aisin Corporation have reached a basic agreement to establish a joint venture company aimed at handling products for next-generation electric vehicles. The JV will focus on developing, producing, and selling traction motors, power converters, inverters, etc, and their control software, tailored for vehicles and relevant systems used in battery electric vehicles and plug-in hybrid vehicles. Both Mitsubishi and Aisin will capitalize on their respective strengths to meet the diverse demands of vehicle electrification.
The Mitsubishi Electric Group excels in power electronics technologies such as power devices and inverters, alongside expertise in motor technologies and control optimization. Mitsubishi Electric Mobility, specializing in automotive equipment, brings robust experience in vehicle electrification for hybrid vehicles, PHEVs, HEVs, aligning with the burgeoning market needs driven by global carbon neutrality efforts.
Aisin offers a comprehensive range of electric units powering various EV types worldwide, including BEVs, PHEVs, and HEVs, through BluE Nexus, a joint venture with Denso specializing in electrification systems and electric drive modules.
Initially, the JV will emerge from Mitsubishi Electric Mobility through a company split, focusing on its electrification business. Mitsubishi Electric Group will hold a majority stake (66%), with Aisin holding a minority stake (34%) in the new venture.
The collaboration aims to synergize Mitsubishi's prowess in power electronics and Aisin's comprehensive electric drive solutions, enhancing their collective ability to cater to the evolving EV market's demands.
The joint venture underscores a strategic move by Mitsubishi Electric and Aisin to bolster their positions in the rapidly expanding electric vehicle market, leveraging synergies to innovate and expand their product offerings across diverse EV systems.
The agreement signifies a significant step forward in Mitsubishi Electric's and Aisin's commitment to advancing sustainable mobility solutions, aligning with global initiatives toward carbon neutrality and accelerating the adoption of electric vehicles worldwide.
