Toyota puts up EV company to develop electric cars

Toyota Motor Corporation (TMC) announced they have come up with a plan of establishing an in-house venture company that will be responsible for electric vehicle (EV) developments.  

It said that the venture company will be a virtual organization and is laid to launch in December this year. This virtual company, according to Toyota, will include 4 people, each from Toyota Industries Corporation, Aisin Seiki Co., Ltd., Denso Corporation, and TMC. 

On further note, this venture company is said to draw the technological resources and knowledge of the Toyota Group. The plan is to make quicker market production, project progress, and work process.

Evident in TMC's view of producing the "ultimate eco-car", which in the past years, is seen by its special focus on developing fuel cell vehicles, hybrid, plug-in, and EV. 

However, the unstable global energy-infrastructure issues and tightened regulations regarding the use of zero-emission cars have demanded for more flexible vehicle lineups. Thus, TMC came with a structure enabling it to pre-commercialize EVs.