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Chubu Electric, Marubeni Launch JV to Supply Commercial Electric Vehicles

2020/02/26 22:49
Sousuke Kudou, technical writer
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An electric bus in operation in Kitakyushu City (source: Nikkei NP, image for reference)

Chubu Electric Power Co Inc and Marubeni Corp announced Feb 20, 2020, that they have established a limited liability company (LLC) for providing electric trucks/buses, charging facilities, etc to physical distribution/transportation businesses owning large-size commercial vehicles.

The LLC, Fleet EV Initiative (FEVI) LLC, is aimed at starting to provide one-stop services related to the introduction of electric vehicles by fiscal 2021.

To use commercial electric vehicles such as trucks and buses and appropriately run businesses, it is necessary to consider the establishment and optimal operation of charging infrastructures from various aspects. The new company will push forward with verification by using Chubu Electric's electric work/maintenance technologies and knowhow to operate electric power infrastructures as well as knowledge that Marubeni built up through sale of rapid chargers.

The two companies plan to (1) contribute to the reduction of CO2 by providing electric vehicles to physical distribution/transportation businesses and (2) make proposals to use the power storage function of electric vehicles for BCPs (business continuity plans) and further utilize renewable energy.

The capital of the new company is ¥195,000,000 (including capital reserve). The investment ratios of Chubu Electric and Marubeni are both 50%. Its headquarters are located in Nagoya City.