Japanese EV Startup to Rent Components to Developers

GLM Co. Ltd., a Japanese electric car startup, is offering to rent out its major components to help would-be parts suppliers develop products for the EV market, The Nikkei reports.

GLM debuted its first EV, the Tommykaira ZZ sports car, in 2014. Now it has hired Singapore-based Orix Rentec Corp. to lease its chassis, powertrain and control system to outside developers.

The company says the scheme provides a fast and inexpensive way for potential EV parts suppliers to develop and test their products without the cost, time and effort of retrofitting them to EVs they buy or build themselves.

The Nikkei says a five-year lease of GLM’s components costs 143,000 yen ($1,300) per month.

GLM is a spinoff from the Kyoto Electric Car Project launched in 1996. The company began marketing its first EV, the Tommykaira ZZ sports car, in 2014. The carmaker aims to launch a second model, the high-performance four-seat G4, next year.

The 540-hp G4 promises a range of 400 km (250 miles) per charge and the ability to zip from zero to 100 kph in 3.7 seconds. GLM will market the G4 in Japan, Europe, China and the Middle East.