An agreement reached to establish a new company that supports the next-generation Mobility Society
August 27, 2019
Tokyo Electric Power Company Holdings, Inc.
Chubu Electric Power Co.,Inc.
Tokyo Electric Power Company Holdings, Inc. (President Tomoaki Kobayakawa; Head office in Chiyoda-ku, Tokyo; Hereinafter “TEPCO HD”) and Chubu Electric Power Co., Ltd. (President Satoru Katsuno; Head office in Higashi-ku, Nagoya; Hereinafter “Chuden”) have today reached an agreement to establish e-Mobility Power Co., Inc. (hereinafter “e-Mobility Power”), a joint venture for supporting the next-generation Mobility Society, with the target launch date of October 1 this year.
Until now, TEPCO HD and Chuden have worked on spreading and expanding the use of electric vehicles through their participation in Nippon Charge Service, LLC (Note 1) (hereinafter “Nippon Charge Service”) for installing EV chargers, expanding an EV charging network and offering related services.
Under the partnership, TEPCO HD and Chuden will bring electrical installation, maintenance and maintenance technologies and know-how for operating electric infrastructures they have fostered in the electric power business, while TEPCO HD will also offer its expertise in the development and international standardization of the rapid charging system CHAdeMO (Note 2) in partnership with auto manufacturers, as e-Mobility Power strives to establish “charging services that every motorist can use everywhere, every time and at a reasonable cost.” The joint venture also aims to take over the charging network business that Nippon Charge Service currently operates.
TEPCO HD and Chuden will continue to promote the electric mode of transportation as their contribution to establishing a low-carbon society, while advocating the use of BCP in emergencies and the greater use of renewable energies to help establish a sustainable society.
(Note 1) Nippon Charge Service was established in May 2014 with the aim of building a convenient EV charging network and services with capital participation from seven companies, namely Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., Mitsubishi Motors Corporation, Development Bank of Japan Inc., TEPCO Energy Partner, Inc. and Chubu Electric Power Co., Ltd.
(Note 2) CHAdeMO is a quick-charging method adopted as a global industry standard. The world’s main charger manufacturers have joined the CHAdeMO Association, with about 50 vendors offering CHAdeMO charger products.
As a result, some 18,000 CHAdeMO quick chargers have been installed and used by EV / PHEV users in 69 countries around the world.
【Overview of the new company】
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Trade name
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e-Mobility Power co.,Inc.
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Location
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Minato-ku, Tokyo (tentative)
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Representative
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President Shoko Yotsuyanagi (tentative)
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Date of establishment
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October 1, 2019(tentative)
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Stated capital
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5 billion yen [60% from TEPCO HD and 40% from Chuden］
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The name of the new company reflects our goal of using “electric” power to provide EV chargers to “everyone,” “every time” and “everywhere” for “every” means of Mobility.
【Overview of participating companies】
Tokyo Electric Power Company Holdings, Inc.
(1)Trade name:Tokyo Electric Power Company Holdings, Incorporated
(2)Date of establishment:May 1, 1951
(3)Business description:Electric power business, gas business, heat supply business, etc.
Chubu Electric Power Co., Ltd.
(1)Trade name:Chubu Electric Power Company, Incorporated
(2)Date of establishment:May 1, 1951
(3)Business description:Electric power business, gas business, community support infrastructure business, etc.
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