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.
Oil refiner Idemitsu Kosan Co. plans to market an electric vehicle this year, making it the first non-automaker in the country to step into the market, the Nikkei newspaper reported.