ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it will collaborate with Isuzu Motors Limited (headquartered in Yokohama, Kanagawa; Masanori Katayama, President and Representative Director; hereinafter “Isuzu”) as a partner to provide a range of solutions in the EVision^* service that Isuzu will launch on March 7, 2023. The EVision service refers to a total solution program that Isuzu developed in sync with the market launch of the ELF EV, Isuzu’s first mass-produced battery electric vehicle (BEV), with a view toward realizing carbon neutrality through the provision of support when customers consider introducing commercial-use BEV, the provision of solutions to issues associated with the introduction thereof, quantification of carbon dioxide emission reduction effects, and proposals for further decarbonization.

ITOCHU has been pursuing the following initiatives to provide solutions to a range of issues associated with the market launch of electric vehicles (EV).

◆ Development of a charging simulation service to secure operation while simultaneously optimizing electricity prices
◆ Investment in commercial-use EV rental companies
◆ Introduction of EV and demonstration of office decarbonization
◆ Demonstration of deliveries using battery-swapping mini electric trucks
◆ Provision of a service that remotely diagnoses the status of automotive lithium-ion battery degradation

Also, by engaging in a broad range of electric power-associated businesses (electricity retail business, renewable energy generation business, energy management business, etc.), which are indispensable for the introduction of EV, ITOCHU has been taking steps to build solutions for decarbonization. By leveraging the knowledge that it has accumulated, ITOCHU will collaborate with Isuzu and help customers with the introduction of ELF EV at each process of the EVision.

Moreover, it will roll out the EVision Preism Contract lease service through Isuzu Leasing Services Limited (headquartered in Yokohama, Kanagawa; Keiichiro Maegaki, President & CEO), a joint venture of Isuzu Motors Sales Ltd. (headquartered in Yokohama, Kanagawa; Yoshio Hiruma, President & CEO) and ITOCHU. The Evision Preism Contract is a lease service package comprising a fully coordinated charging solution that includes charger selection, installer arrangement, installation and subsidy application, among other services, and an EV industry’s advanced lease contract that features the reflection of expected power battery degradation in the lease period according to the customer’s operation plan.

Together with ITOCHU, the following ITOCHU Group companies will participate in the collaboration as Isuzu’s partner companies in the provision of the Evision. In providing the charging solution, ITOCHU Plantec Inc. (headquartered in Minato-ku, Tokyo; Ichiro Shimizu, President) will collaborate in developing a broad range of services, including the installation of cubicles and related services. Regarding charging management linked to facility power and the introduction of renewable energy power, i GRID SOLUTIONS, Inc. (headquartered in Chiyoda-ku, Tokyo; Tomokazu Akita, President), VPP Japan Inc. (headquartered in Chiyoda-ku, Tokyo; Tomokazu Akita, President), and ITOCHU Enex Co., Ltd. (headquartered in Chiyoda-ku, Tokyo; Kenji Okada, President & CEO) will collaborate with Isuzu to make flexible proposals according to customer demand.

Moreover, efforts will be made going forward to use the batteries incorporated in the ELF EV and to establish a battery ecosystem by leveraging ITOCHU’s knowledge of the energy storage device business. With demand for electrification growing in the logistics sector towards the realization of a carbon neutral society, Isuzu’s EVision will not only solve a range of issues arising in relation to the introduction of commercial-use BEV, it will also facilitate the introduction itself for safety and assurance. ITOCHU has declared “enhancing our contribution to and engagement with the SDGs” as one of the basic policies of its Medium-term Management Plan. Therefore, through these initiatives, it will contribute to the realization of decarbonization in a range of areas, including the mobility area.