Mitsubishi Electric and Aisin join forces to produce EV parts

Mitsubishi Electric and Aisin will establish a joint venture to jointly develop and produce parts required for electrification, such as inverters. Mitsubishi Electric will invest more than half of the capital, and Aisin will hold the remaining shares. The new company will focus on producing electrified parts that precisely control motor speed and improve energy-saving performance. Mitsubishi Electric's automotive equipment business had operating revenue of 944.1 billion yen in fiscal 2023, and is involved in areas such as electric power steering parts and advanced driver assistance systems (ADAS). Aisin is a parts manufacturer under Toyota, with operating revenue of 4.9095 trillion yen in fiscal 2023, ranking second in Japan's domestic automotive parts industry after Denso.