The joint venture will focus on the development, production, and sale of traction motors, power converters, and their control software. These components will be tailored for vehicles and corresponding systems and will be utilised in next-generation electric vehicles, including battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs).
Mitsubishi Electric Corporation, Mitsubishi Electric Mobility Corporation, and Aisin Corporation have reached a preliminary agreement to form a new joint venture company dedicated to advancing the technology for next-generation electric vehicles.
This newly established joint venture will engage in the development, production, and marketing of traction motors, power converters (such as inverters), and their control software. These products will be specially designed to integrate seamlessly with vehicle systems and meet the specifications required by next-generation electric vehicles, including battery electric vehicles (BEVs) and plug-in hybrid vehicles (PHEVs). The collaboration will combine Mitsubishi’s and Aisin’s complementary strengths to address the growing and diverse demands of vehicle electrification.
The Mitsubishi Electric Group brings to the venture its expertise in power electronics technologies, including power devices and inverters, alongside advanced motor technologies and control optimization technologies. Mitsubishi Electric Mobility, which operates within the automotive equipment sector, has considerable experience in vehicle electrification for hybrid vehicles, such as PHEVs and HEVs. It is actively pursuing opportunities in the rapidly expanding market for vehicle electrification, spurred by the global push towards carbon neutrality. The company aims to create synergies with new partners and expand its product range to cater to the evolving needs of various EV systems.
Aisin, through its joint venture with Denso called BluE Nexus, offers a comprehensive range of electric units suitable for all types of electric vehicles, including BEVs, PHEVs, and HEVs. Aisin distributes these products globally, enhancing the development, customization, and sales of electrification systems and electric drive modules.
The joint venture will initially emerge from a strategic restructuring of Mitsubishi Electric Mobility, through which the electrification business will be spun off into a new entity. Following the restructuring, the Mitsubishi Electric Group will hold a majority stake of 66% in the joint venture, with Aisin holding the remaining 34% share. This partnership aims to leverage the unique strengths of both Mitsubishi and Aisin in the evolving landscape of electric vehicle technology.
