Japan-China JV to Release Electric Minivehicle Next Year

Tokyo, May 28 (Jiji Press)–EMT Co., a Japanese-Chinese joint venture set up to develop electric vehicles, said Wednesday that it will release an electric minivehicle, its first product, in Japan next year. The joint venture, based in Yokohama, Kanagawa Prefecture, south of Tokyo, aims to roll out four models under the EMTA brand by 2029 and expand into overseas markets. EMT, owned by five firms, including Japanese auto parts retailer Autobacs Seven Co. and Chinese automaker Chery Automobile Co., will import vehicles manufactured in China, while considering future production in Japan. The joint venture will leverage Autobacs’ sales network. Nissan Motor Co.’s Sakura currently leads the Japanese electric minivehicle market, where competition is expected to intensify as Chinese EV giant BYD Co. is preparing to enter this summer. The first EMTA model comes as “a good time when the market grows,” EMT Chief Marketing Officer Susumu Uchikoshi said. “We hope to show our presence not only in the electric minivehicle segment but also in the overall minivehicle market.” END [Copyright The Jiji Press, Ltd.]