TOKYO - Friday, September 2nd 2016 [ME NewsWire]
(BUSINESS WIRE)-- TDK Corporation (“TDK”, TOKYO:6762, Representative Director and President: Shigenao Ishiguro) and Toshiba Corporation (“Toshiba”, TOKYO:6502, Representative Executive Officer, President and CEO: Satoshi Tsunakawa) 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 mark
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