AISIN and DENSO to Form a New Company to Develop and Sell Driving Modules for Electric Vehicles
Aisin Seiki Co., Ltd..
DENSO Corporation
KARIYA (Japan), December 26, 2018 ― Aisin Seiki Co., Ltd. (AISIN) and DENSO Corporation (DENSO) today announced they have formally agreed to form a new company to develop and sell driving modules used for electric vehicles. The new company is named BluE Nexus and will be established in April* 2019. In August 2018, AISIN and DENSO first announced their basic agreement to establish a joint venture.
Electrification requires a driving module package that consists of transaxles, motor-generators, and inverters, which are key components needed for both partially and fully electric vehicles. AISIN and DENSO will combine their strengths in electrification to develop a wide range of driving modules and sell them to automakers in Japan and throughout the world. Moreover, BluE Nexus will calibrate them for the diverse needs automakers have for hybrid vehicles (HVs), plug-in hybrid vehicles (PHVs), and electric vehicles(EVs).
These modules help automakers and consumers protect the environment against global warming, atmospheric pollution, resource and energy problems, and more.
* The establishment of this new company requires the approval of antitrust authorities.
Profile of the joint venture
| 1. Name | BluE Nexus Corporation |
|---|---|
| 2. Establishment | April 2019 (planned) |
| 3. Location | Anjo City, Aichi Prefecture, Japan |
| 4. Capital | 50 million yen |
| 5. President | Kozo Yamaguchi (currently an Executive Vice President of Aisin AW Co., Ltd.) |
| 6. Ownership | 50% owned by AISIN, 50% by DENSO |
| 7. Employees | Approx. 200 (April 2019) |
| 8. Business description | Developing, calibrating electric drive modules, selling |
About DENSO Corporation
DENSO Corp., headquartered in Kariya, Aichi prefecture, Japan has approximately 220 subsidiaries in 35 countries and regions (including Japan) and employs approximately 170,000 people worldwide. Consolidated global sales for the fiscal year ending March 31, 2018, totaled US$48.1 billion. Last fiscal year, DENSO spent 8.8 percent of its global consolidated sales on research and development. DENSO common stock is traded on the Tokyo and Nagoya stock exchanges. For more information, go to www.denso.com, or visit our media website at www.denso.com/global/en/news/media-center/