TDK Corporation and Toshiba Corporation have agreed to establish a joint venture (JV), TDK Automotive Technologies Corporation, that will engage in the development, manufacture and sales of automotive inverters for hybrid vehicles, plug-in hybrid vehicles and electric vehicles, as detailed below.
I. Reasons for establishment of the JV
Many countries propose to impose more stringent regulation of automobile exhaust emissions in 2020 and after, in an effort to prevent air pollution and global warming. This trend to stricter regulation is expected to greatly affect the global automobile market, contributing to an increase in demand for hybrid and plug-in hybrid vehicles in the global market and greatly increased use of electric, fuel-cell, and other eco-friendly vehicles.
(Continued on the next page)