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AUTOWORLD » Cars Share

Toyota to form electric car technology venture with Mazda

Toyota to form electric car technology venture with Mazda

By Naomi Tajitsu and Maki Shiraki

TOKYO, Sept 28 (Reuters) Toyota Motor Corp is establishing a new venture to develop electric vehicle technology with partner Mazda Motor Corp, seeking to catch up with rivals in an increasingly frenetic race to produce more battery-powered cars. Policymakers in key markets like China are aggressively pushing a shift to electric cars over the next two to three decades, pressuring traditional automakers to crank up their electric vehicle (EV) plans - just as declining battery costs enable more power to be packed into cars. Toyota said in a statement the new company will develop technology for a range of electric cars, including minivehicles, passenger cars, SUVs and light trucks. Toyota will take a 90 percent stake in the joint venture, called EV Common Architecture Spirit Co Ltd, while Mazda and Denso Corp, Toyota's biggest supplier, will each take a 5 percent stake. The plans build on a partnership announced in August when Japan's biggest automaker agreed to take a 5 percent stake in Mazda and two said they would jointly develop affordable electric vehicle technologies. After years of focusing on bringing hydrogen fuel cell vehicles to the market, Toyota last year set up a division to develop electric cars which is led by President Akio Toyoda, and said it plans to introduce EVs in China in the coming years. Neither Toyota nor Mazda market fully electric passenger cars at the moment. Toyota has cited affordability and the limited range of battery-operated cars as obstacles to the mass popularisation so far. Mazda has an R&D budget a fraction of Toyota's, which has made it difficult to develop electric cars on its own. Even so, it has said it plans to launch EVs in 2020. Shares in Mazda were up 3 percent after the announcement, while those in Denso were up 1.5 percent. Toyota shares were flat. REUTERS SV 1108

Maruti’s

Maruti’s new Dzire crosses 1 lakh sales mark in 5 and half month

Mumbai, Oct 17(UNI)Auto Major,Maruti Suzuki’s all-new Dzire has achieved the fastest 1-lakh sales mark, a distinctive feat in the Indian automobile industry.

Ford's

Ford's China sales stuck in first gear as rivals overtake

BEIJING, Oct 13 (Reuters) Ford Motor Co saw its China vehicle sales make the barest of increases in September, extending a tough run in the world's largest auto market even as global rivals have logged robust gains.

Toyota

Toyota seeking to halve Japan car models as domestic market shrinks

TOKYO, Oct 12 (Reuters) Toyota Motor Corp is aiming to halve the number of car models it sells at home by 2025, a person briefed on the matter said - the second time this month that a Japanese automaker has emerged with plans to sharply scale back in a shrinking domestic market.

Volvo

Volvo launches 1st locally-assembled 'XC90' from its plant in Bengaluru

Mumbai, Oct 11 (UNI) Volvo Cars, the Swedish luxury car maker, has rolled out its first assembled car from its plant in Bengaluru.

Volkswagen

Volkswagen launches all New Passat starting at Rs 29.99 lakhs

New Delhi, Oct 10 (UNI) Volkswagen, Europe’s leading car manufacturer, today announces the launch of the much awaited luxury sedan Volkswagen Passat at a starting price of Rs 29.

Passenger

Passenger vehicle sales up by 11pc in domestic market in Sept 2017

New Delhi, Oct 9 (UNI) The Domestic passenger vehicle sales growth has been recorded up by 11 per cent to 3,09,955 units in September from 2,78,428 in the same month last year.

Honda faces long haul to recoup jet costs

Honda faces long haul to recoup jet costs

TOKYO, Mar 27 (Reuters) After three decades building an airplane from scratch, Michimasa Fujino, 56, chief engineer of the Hondajet, might have to reach a ripe old age to see Honda Motor Co's pet aviation project recoup its development costs.

Escorts unveils country’s first electric tractor concept, Launches Hydrostatic tractor

Escorts unveils country’s first electric tractor concept, Launches Hydrostatic tractor

New Delhi, Sep 6 (UNI) Escorts Ltd, India’s leading engineering conglomerate today launched India’s first Electric & Hydrostatic concept tractor and an expanded global portfolio of tractors for the export and domestic market in 22HP to 90 HP range under flagship brands Farmtrac and Powertrac compliant with tier 4 emission norms of Europe and America amidst 43 International distributors.

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