Press Release

Press Release

e-Mobility Power to Assume Nippon Charge Service, LLC's Business Operations

February 12, 2021
Tokyo Electric Power Company Holdings, Inc.
Chubu Electric Power Co.,Inc.

In October 2019, Tokyo Electric Power Company Holdings, Inc. (President: Tomoaki Kobayakawa; Head Office: Chiyoda-ku, Tokyo; "TEPCO HD") and Chubu Electric Power Co., Inc. (President & Director: Kingo Hayashi; Head Office: Higashi-ku, Nagoya; "Chubu Electric Power") established e-Mobility Power Co., Inc. (President: Shoko Yotsuyanagi; Head Office: Minato-ku, Tokyo; "e-Mobility Power"), which installs quick chargers for electric and other vehicles (Note 1), expands EV charging networks, and offers related services with a view toward electrification of the transport sector so as to establish a low-carbon society and both companies have been working to increase the adoption of electric and other vehicles.

e-Mobility Power will enter into an absorption-type company split agreement with Nippon Charge Service, LLC (Note 2) (Representative Partner: Mitsubishi Motors Corporation; Executor: Yosuke Wakabayashi; "NCS") and take over operations from NCS on April 01, 2021 (Note 3).

Approximately 21,700 quick and standard chargers (Note 4) have already been installed throughout Japan in collaboration with NCS. e-Mobility Power will take over the charging service, charging network service, and other businesses for electric and other vehicles that NCS operates with the aim of further expanding these businesses.

In addition to electrical installation, servicing, and maintenance technologies as well as know-how about operating electric power infrastructures developed by TEPCO HD and Chubu Electric Power in their electric power businesses, e-Mobility Power will leverage knowledge and other expertise about international standardization and development that TEPCO has gained in its CHAdeMO Association (Note 5) activities to offer an affordable and user-friendly charging environment for household and corporate customers employing electric and other such vehicles.

TEPCO HD and Chubu Electric Power will continue to promote electrification of the transport sector as part of their contribution to achieving a low-carbon society and offer BCP measures for emergencies in addition to making greater use of renewable energies to contribute to the establishment of a sustainable society.

[Profile of Absorption-Type Company Split Parties](As of February 12, 2021)


Split company

Successor company

Name

Nippon Charge Service, LLC

e-Mobility Power Co., Inc.

Location

3-chome 11-36 Mita, Minato-ku, Tokyo

3-chome 11-36 Mita, Minato-ku, Tokyo

Representative

Representative Partner: Mitsubishi Motors Corporation
Executor: Yosuke Wakabayashi

President: Shoko Yotsuyanagi

Established

May 26, 2014

October 01, 2019

Investment

Toyota Motor Corporation
Nissan Motor Co., Ltd.
Honda Motor Co., Ltd.
Mitsubishi Motors Corporation
Development Bank of Japan Inc.
TEPCO Energy Partner, Inc.
Chubu Electric Power Co., Inc.

Tokyo Electric Power Company Holdings, Inc.
Chubu Electric Power Co., Inc.

Businesses to be taken over

  • Charging service business for electric and other vehicles
  • Charging network service business for electric and other vehicles
  • Rights and obligations incidental and related to the aforementioned businesses

(Note 1) Electric automobiles, plug-in hybrid vehicles, etc.

(Note 2) Nippon Charge Service was established in May 2014 with the aim of constructing a convenient EV charging network and services with capital participation from seven companies: 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., Inc.

(Note 3) The business succession is premised on completing acquisition of the necessary clearances pursuant to the Antimonopoly Act.

(Note 4) As of December 31, 2020.

(Note 5) CHAdeMO Association is an organization working to develop technology and maintain protocols for CHAdeMO, a quick charging system applying the same standard worldwide. Major charger manufacturers worldwide are CHAdeMO Association members, and approximately 50 manufacturers have commercialized CHAdeMO chargers. CHAdeMO has been established in approximately 90 countries globally and users of electric and other such vehicles worldwide are utilizing approximately 36,600 CHAdeMO charge points.

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