Issued on October 24, 2012
Establishment of a Joint Venture with German REMA for the Development of EV Charging Connectors
Sumitomo Electric Industries, Ltd. (Head office: Chuo Ward, Osaka City, President: Masayoshi Matsumoto, hereinafter referred to as "SEI") and Sumitomo Wiring Systems, Ltd. (Head office: Yokkaichi City, Mie Prefecture, President: Osamu Inoue, hereinafter referred to as "SWS") have agreed to establish a joint venture to develop and design electric vehicle charging connectors with REMA Lipprandt GmbH & Co. KG (Head office: Bonn, Germany, President: Dr. Michael Lipprandt, hereinafter referred to as "REMA"), a charging connector manufacturer in Germany.
The new company will be set up in the middle of November 2012, after obtaining the necessary permissions from the German competition law authorities.
SEI and SWS operate 105 companies in 32 countries around the world as global suppliers of automobile wiring harnesses, offering new products for environmentally-friendly vehicles such as aluminum harnesses and pipe harnesses for hybrid vehicles to improve fuel consumption. The companies have already promoting the business meeting the ordinary charge standards and quick charge standard "CHAdeMO" for charging connectors for electric vehicles.
SEI and SWS have been examining product development in preparation for entering the market of the "Combined Charging System" (hereinafter referred to as "Combo"), the EV quick charge standards recommended by European and American auto manufacturers. SEI and SWS will purchase the know-how concerning the basic technology of charging connectors from REMA, a leading developer of Combo charging connectors and a member of the charging connector standardization committee, etc., and will set up an EV charging connector development company with REMA.
Through this joint venture, we expect the rapid development of Combo specification charging connectors, enabling us to offer more proposals to customers and expand sales.
Outline of the new company
|Trade name||SUMI REMA EV Solutions GmbH (tentative)|
|President||Undecided (to be dispatched from SEI or SWS)|
|Location||Bonn, Federal Republic of Germany|
|Capital||500,000 euro (approximately 51,500,000 yen at exchange rate of 1 euro to 103 yen)|
|Capital contribution ratio||SEI: 36%, SWS: 24%, REMA: 40%|
|Description of business||Development, design, and marketing of EV charging connectors|
|Established||November 2012 (planned)|
|Number of employees||6 people (2012)|
|Sales planned||Approximately 600,000 euro (for FY2012)|
Public Relations Group, Public Relations Department, Sumitomo Electric Industries, Ltd. TEL: +81-6-6220-4119
Public Relations Group, General Affairs Department, Sumitomo Wiring Systems, Ltd. TEL: +81-59-354-6201