Mitsubishi Electric and Aisin to launch EV parts joint venture

TOKYO — Mitsubishi Electric and auto parts supplier Aisin plan to set up a joint venture for electric and hybrid vehicle components, Nikkei has learned, leveraging their combined scale for more efficient research and development as price competition intensifies.

The company, to be majority owned by Mitsubishi Electric, will develop and produce components such as energy-saving inverters. Mitsubishi Electric and Aisin will concentrate on their respective areas of expertise for more efficient research and development.