Idemitsu Kosan Co., Ltd. Reaches Agreement with Tajima Motor Corporation to Establish Idemitsu Tajima EV Corporation
February 18, 2021 at 01:00 am EST
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Idemitsu Kosan Co. Ltd. announced that it has reached an agreement with Tajima Motor Corporation to establish a new developer of next-generation mobility (such as ultra-compact EVs) and services, Idemitsu Tajima EV Corporation, effective April 2021. Idemitsu's service station network and materials development technology will be combined with Tajima Motor's vehicle design technology to provide a completely new mobility category with a focus on ultra-compact EVs, in response to potential transportation-related needs. The new company will kick off to a new start with Idemitsu's investment in Tajima EV Corporation, a Tajima Motor affiliate, with a corporate name change to Idemitsu Tajima EV Corporation. Idemitsu Tajima EV aims to announce its first vehicle in October 2021 and to achieve market launch during 2022. Idemitsu Tajima EV will not only develop and sell ultra-compact EVs, but will also engage in various other operations including solar powered electric vihicles, use of next-generation batteries, development of automated driving, green slow mobility, and new subscription and car share models, establishment of MaaS-related digital platforms, and creation of a recycling system.
Idemitsu Kosan Co., Ltd. is specialized in the production and refining of petroleum products. Net sales break down by category as follows:
- refining of petroleum products (78.8%): fuels, lubricants, kerosene, etc. At the end of March 2019, the group operated 6 refineries in Japan;
- manufacturing of petrochemical products (12.5%): activity carried out in 2 production sites located in Japan;
- exploration and production of oil, coal, uranium and geothermal resources (7%);
- other (1.7%).
Net sales are distributed geographically as follows: Japan (69.8%), Asia-Pacific (19.2%), North America (7.2%), Europe (2.4%) and others (1.4%).
IDEMITSU KOSAN CO., LTD. 
