Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation jointly announced an agreement to work together to promote the installation of chargers for electric-powered vehicles, including PHVs, PHEVs, EVs, and build a charging network service in Japan.

Assisted by subsidies provided by the Japanese government, the four automakers will bear part of the cost to install the charging facilities. They will also work together to build a convenient and accessible charging network in collaboration with companies that are already providing charging services in which each of the four automakers already have a financial stake.

At present, there are about 1,700 quick chargers and just over 3,000 normal chargers in Japan, according to the companies. The Japanese government has announced subsidies for installation of charging facilities totaling ¥100.5 billion as part of its economic policy for fiscal year 2013 to quickly develop the charging infrastructure and expand the use of electric-powered vehicles using alternative energy sources. Currently, each prefecture in Japan is drawing up a vision for the use of the subsidies.

Previously, each automaker assessed possible locations for charging facilities on their own. Now, they have agreed to work jointly under the common understanding that the charging infrastructure has public value and that enhancing it should be done quickly during the limited period that the subsidies are available.

Under the agreement, the four companies will launch a joint project to:

• Promote installation of chargers in Japan.

• Promote charger installation by temporarily bearing part of the installation and maintenance costs.

• Build a charging infrastructure network which enables customers to use their PHVs, PHEVs and EVs more conveniently.

• Work with government agencies and local governments.