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Toyota to form tech venture with Mazda for electric cars

Sep 29, 2017 (the-japan-news.com) - 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 the 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 popularization 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.

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Japan's World Cup campaign begins on June 14 when the Samurai Blue face the Netherlands at Dallas Stadium in Texas, a clash that will showcase some of the game's most talented players and pit two ambitious teams against one another in a crucial Group F opener. While Japan arrives without injured winger Kaoru Mitoma, one of its most recognizable stars, the squad still boasts a wealth of talent drawn from Europe's top leagues.

The Japan Meteorological Agency (JMA) announced that an El Niño phenomenon is believed to have developed this spring, warning that Japan is likely to experience above-average temperatures nationwide this summer despite the climate pattern's traditional association with cooler summers.

Narita International Airport Corporation is expected to announce next month that it will apply to the national government for project certification as part of the process to enable compulsory land acquisition for the construction of a new runway at Narita Airport, according to sources familiar with the matter.

A fire broke out at Arima Inari Shrine near the Arima Onsen hot spring resort area in Kobe on the night of June 9th, destroying multiple buildings and leaving an elderly Shinto priest and his wife with minor injuries.

Japan's national soccer team arrived in Nashville, Tennessee, on June 8th from Monterrey, Mexico, where it had been conducting a pre-World Cup training camp, and held its first practice session at its base camp for the FIFA World Cup in North America.

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A fire broke out at Arima Inari Shrine near the Arima Onsen hot spring resort area in Kobe on the night of June 9th, destroying multiple buildings and leaving an elderly Shinto priest and his wife with minor injuries.

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