Toyota: Investment in e-Mobility Power
Nippon Charge Service (NCS) with e-Mobility Power, Inc., whos equity holders are Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) and Chubu Electric Power Co., Inc. (Chubu Electric), went ahead into an absorption-type corporate division agreement on 5th February 2021 under which e-Mobility Power assumed the electrified vehicle2 charging service business and charging network business operated by NCS effective April 1.
Today a total of seven companies including TEPCO HD, Chubu Electric, four automakers?Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation?and the Development Bank of Japan Inc.subscribed to a total of 15 billion yen of e-Mobility Power shares through a third party allotment of new shares with TEPCO HD and Chubu Electric increasing their stakes, and rest making new investments to establish e-Mobility Power’s new shareholder composition.
The company will take in use the construction, servicing, and maintenance technologies and electric infrastructure operation know-how acquired by TEPCO HD and Chubu Electric through their electric power businesses and the development and international standardization knowledge accumulated by TEPCO HD through the CHAdeMO Association in order to expand the charging network of approximately 21,700 chargers4 nationwide assumed from NCS, and to provide a highly convenient and reasonably-priced charging environments to households and corporate customers through a cooperative structure made up of the electric power companies, the four automakers, and the Development Bank of Japan. e-Mobility Power will promote the popularization of electrified vehicles and contribute to the creation of a carbon neutral society, by doing so.