Kitakyushu-based EV Motors Japan announced on August 10 that it had signed a sponsorship agreement with Ikuyo Co., a company involved in automotive-related and electric vehicle businesses. EV Motors Japan is undergoing civil rehabilitation proceedings after a series of problems involving buses it manufactured. Under the agreement, Ikuyo will acquire only the company’s electric bus business, while EV Motors Japan will continue operating its other businesses. The transfer is scheduled to take place in November. EV Motors Japan has developed and manufactured electric buses from its base in Kitakyushu, but product and operational problems led the company to begin restructuring under Japan’s Civil Rehabilitation Act. The agreement provides a sponsor for the bus division while allowing the company’s remaining operations to continue separately. Source: KBC News / EV Motors Japan
Photo: EV Motors Japan
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