Japanese companies DENSO Corp., Aisin Seiki Co. Ltd. formally agreed to set up their previously announced joint ventures for electric vehicles and self-driving systems in April 2019.
Toyota Motor Corp. is the largest shareholder in auto parts makers Denso, Aisin Seiki and JTEKT. Aisin Seiki is the majority owner of Advics.
Aisin and Denso agreed to set up BluE Nexus to develop driving modules for electric vehicles. The joint venture will be set up in Anjo City, Aichi Prefecture, with a capital of ¥50 million and will employ nearly 200 workers by its April launch.
BluE Nexus also aims to equip EVs to fight global warming, atmospheric pollution and resource and energy problems.
The Japanese parts makers will form J-QuAD DYNAMICS with JTEKT Corp.and Advics Co. Ltd. to develop software and provide engineering services for self-driving systems. J-QuAD will coordinate sensors, brakes, and steering systems for improved acceleration, turning and braking.
J-QuAD DYNAMICS will be headquartered in Chuo City, Tokyo, with R&D centers in Chuo City and Kariya City, Aichi Prefecture.
Both joint ventures require approval from antitrust authorities.
As of Dec. 25, US$1 was equivalent to ¥110.21.