Toyota, Mazda, and a third company, Denso Corporation, have partnered to form a company called EV Common Architecture Spirit Co. Ltd. The aim of this company is to “develop basic structural technologies” as the basis for designing their unique electric vehicle (EV) brands.
The deal essentially means that engineers will be transferred from each company to work full-time with the new company. And they will be given the task of developing these technologies for a wide variety of vehicle types like passenger vehicles, minivehicles, SUVs, and light trucks. Toyota owns 90% of the company while Mazda and Denso have 5% each.
Toyota in particular has been slow to the EV race, which has seen the likes of Nissan and Tesla take an early lead. And based on our earlier article, we might see the first Toyota EVs around 2022.