By Reuters Staff
2 Min Read
TOKYO, Feb 16 (Reuters) - Japanese oil refiner Idemitsu Kosan Co Ltd is to move into the car market with plans to launch an electric vehicle next year at its 6,400 petrol stations via a joint venture with unlisted automaker Tajima Motor Corp.
The move shows how the oil refiner is stepping up its transformation into a supplier of low-carbon energy and materials as local oil demand drops due to a shrinking and ageing population that consumes less fuel.
Idemitsu and Tajima will form a new company, called Idemitsu Tajima EV, in April, and aim to unveil their first vehicle in October this year and start selling the product next year, with a price tag of between 1-1.5 million yen ($9,491-$14,237).
Japanese refiner Idemitsu enters car market with plans to launch EV in 2022
2/17/2021
TOKYO, Feb 16 (Reuters) - Japanese oil refiner Idemitsu Kosan Co Ltd is to move into the car market with plans to launch an electric vehicle next year at its 6,400 petrol stations via a joint venture with unlisted automaker Tajima Motor Corp.
The move shows how the oil refiner is stepping up its transformation into a supplier of low-carbon energy and materials as local oil demand drops due to a shrinking and ageing population that consumes less fuel.
Idemitsu and Tajima will form a new company, called Idemitsu Tajima EV, in April, and aim to unveil their first vehicle in October this year and start selling the product next year, with a price tag of between 1-1.5 MM yen ($9,491-$14,237).
Japanese oil refiner Idemitsu to mass-produce ultra-compact EV : The Asahi Shimbun asahi.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from asahi.com Daily Mail and Mail on Sunday newspapers.
SINGAPORE (Jan 13): Asian utilities are snapping up prompt supplies of fuel oil an emergency backstop for natural gas as power demand surges across the region due to a winter freeze. Power generators in Japan such as Tohoku Electric Power Co recently bought several cargoes of low-sulfur fuel oil for the purpose of direct burning, said traders who asked not to be identified. These supplies can be used in oil-fired power plants, which are typically left in an idled state and utilized only when gas-fed facilities have been maximized.