Toyoda Gosei Acquires Stake in EV Motors Japan, a Startup Developing and Selling Commercial Electric Vehicles

KIYOSU, Japan--(BUSINESS WIRE)--Toyoda Gosei Co., Ltd. (TOKYO:7282) has acquired* a stake in EV Motors Japan Co., Ltd. (EVM-J), a startup engaged in the development and sales of commercial electric vehicles such as trucks and buses.

The commercial EVs developed by EVM-J achieve lower power loss during acceleration and deceleration, longer driving range, and reduced battery load for longer battery life with an originally-developed, high-efficiency motor control system. As EVM-J develops a production network in Japan, the company is also building Japan’s first mass production assembly plant for commercial EVs in Kitakyushu City annexed with Zero Emission e-PARK, a complex where all aspects of EVs can be experienced.

As the structure of the automotive industry changes with the advance of CASE, Toyoda Gosei aims to grow sustainably through the cultivation of new business fields and business innovation. As one part of this effort, the company acquired a stake in EVM-J to learn on site the entire series of processes from development to manufacture of EVs through personnel exchanges with EVM-J and through other collaborative activities, and expand its knowledge of new mobility.

* Toyoda Gosei acquired a stake in EVM-J in November 2024 through its Corporate Venture Capital Dept., an internal organization dedicated to these investments.

Outline of EVM-J
Name	EV Motors Japan Co., Ltd.
Location	1-18-7 Hakusan, Wakamatsu Ward, Kita-Kyushu, Fukuoka, Japan
President/CTO	Yuji Sato
Established	April 2019
Capital	JPY 6.7727 billion (as of November 29, 2024)