Iku-yo has entered into a basic agreement with Master Automobile aimed at promoting the adoption of EV buses in Japan. The agreement specifies that Iku-yo will consider participating in, investing in and jointly developing automotive manufacturing, R&D and sales businesses.
Iku-yo announced that it had entered into a basic agreement with Master Automobile aimed at promoting the adoption of EV buses in Japan. The two companies have indicated that they intend to proceed with specific discussions.
The background includes advances in electrification and autonomous driving technologies and the transition to a decarbonized society. Iku-yo is considering participating in the business as part of its growth strategy, including the transfer of its EV bus business. Master Automobile provides Taiwan-made EV buses, which use LTO batteries and support fast charging in approximately 15 minutes.
The main provisions of the basic agreement include consideration of Iku-yo’s participation in, investment in and joint development of Master Automobile’s manufacturing, R&D and sales businesses; technical studies to ensure compatibility with Japan’s operating environment; establishment of a domestic maintenance, servicing and parts supply system; use of Iku-yo’s parts manufacturing technology and quality control capabilities; and collaboration involving fast-charging, battery storage and autonomous driving technologies.