Japan's Auto Giants Unite to Standardize High-Speed Charging for Electric Cars

Strategic Insights -

Japanese automakers Toyota, Nissan, and Mitsubishi, along with Tokyo Electric Power Co. (Tepco), have formed a consortium to develop a global standard for high-speed battery chargers. The effort aims to standardize how chargers communicate with cars, with Tepco's technology, which determines the type of batteries installed and the required charge, being adopted by Nissan and other Japanese manufacturers. The lack of charging stations is a major constraint on the growth of the electric car market, with Nomura Research Institute forecasting 750,000 to 1.55 million sales in 2020 in Japan, the US, Europe, and China.

Key Takeaways:

  • The consortium, comprising 158 companies and organizations, aims to create a global standard for high-speed battery chargers, with Japan's auto giants playing a key role.
  • Tepco's developed method for charger-car communication, adopted by Nissan and other Japanese manufacturers, has the potential to become the global standard.
  • The lack of charging stations is a major hindrance to the growth of the electric car market, with 158 companies and organizations participating in the consortium to address this issue.
  • The Nomura Research Institute forecasts 750,000 to 1.55 million electric car sales in 2020 in Japan, the US, Europe, and China.
  • The Japanese auto giants' involvement in the consortium is expected to give them an advantage over foreign rivals, which are promoting their own charging technologies.
  • International competition in the field of high-speed charging is likely to increase as a result of this initiative.

Statistics:

  • 158 companies and organizations are participating in the consortium to develop a global standard for high-speed battery chargers.
  • The Nomura Research Institute forecasts 750,000 to 1.55 million electric car sales in 2020 in Japan, the US, Europe, and China.
  • 4 Japanese automakers (Toyota, Nissan, Mitsubishi, and Honda) are involved in the consortium.
  • 11 million hybrid vehicles were sold globally in the past, compared to 750,000 to 1.55 million electric car sales forecast for 2020.

Sources:

  • Asia Pulse
  • Nikkei
  • Toyota Motor Corp. (TSE:7203)
  • Nissan Motor Co. (TSE:7201)
  • Tokyo Electric Power Co. (TSE:9501)
  • Ministry of Economy, Trade and Industry
  • ABB Ltd.
  • Robert Bosch GmbH
  • Nomura Research Institute