Sojitz Corporation will serve as the lead investor in underwriting a new third-party allotment of shares by ASF Co., Ltd. to strengthen Sojitz and ASF’s capital alliance. (Logo quoted from Sojitz’s news release)

Sojitz first concluded a capital and business alliance in December 2020 with ASF, which develops, manufactures, and supplies electric vehicles (EV) and battery-leasing services.

In June 2020, ASF concluded an agreement with Sagawa Express Co., Ltd. to jointly develop compact EVs((test vehicles), and ASF and Sagawa are moving forward with joint development and demonstration of small commercial EVs specialized for logistics companies. Through this recent third-party allotment of shares, ASF will accelerate full-scale vehicle development for mass production of small commercial EVs.

As the lead investor, Sojitz will provide ASF with the necessary financial support for advanced development processes to realize mass production of its EVs. At the same time, Sojitz will leverage its wide-ranging Group networks and business infrastructure to provide a stable supply of renewable energy to power EVs and install EV charging equipment and other charging infrastructure services required for the commercial expansion of EVs. 

By strengthening its support to popularize EVs, Sojitz aims to promote green EV infrastructure businesses using clean electricity produced from renewable energy.

(IRuniverse)