Panasonic Corporation invests in Ubiden, Inc. to expand electric vehicle (EV) charging services in Japan. The investment will help support the growth of the EV market in Japan, as the country targets carbon neutrality by 2050. Ubiden operates an EV charging service called WeCharge, which offers hassle-free charging payments based on electricity usage, revolutionizing EV charging in Japan.
Panasonic invests in Ubiden to expand electric vehicle charging services in Japan
Panasonic Corporation has announced its investment in Ubiden, Inc., a company that provides charging services for electric vehicles (EVs) in Japan. The move aims to support the growth of EVs in Japan as the country targets carbon neutrality by 2050.
The investment will be made through the Panasonic Kurashi Visionary Fund, which is jointly managed by Panasonic and SBI Investment Co., Ltd. Ubiden’s WeCharge EV charging service addresses Japan’s inadequate charging infrastructure, a key obstacle to EV adoption. WeCharge offers hassle-free charging payments based on electricity usage.
WeCharge lets EV users pay for electricity based on usage at charging outlets, not time. This user-friendly service gives Ubiden an edge in operating at residential complexes, commercial facilities, and locations with multiple EV owners.
As Panasonic invests in Ubiden it will help to develop an optimal charging infrastructure that will support the uptake of EVs in Japan. The number of standard chargers installed in Japan will see an increase of 77,000 by 2035, about three times the total installed in 2021.
Panasonic and Ubiden’s joint effort aims to help overcome the physical and operational challenges associated with installing EV charging facilities in residential complexes, which have been difficult to achieve until now. The companies aim to create a seamless charging experience for EV users, further driving the adoption of EVs in Japan.
For several years now, Panasonic has shown commitment to supporting the growth of the EV market. In 2019, the company launched a new EV charging service called “Narita Airport EV Mobility Service” at Narita International Airport. The service provides effortless EV charging and supports expanding the Japanese EV market.
By investing in Ubiden, Panasonic has taken a significant step towards expanding its EV charging services and supporting the growth of the EV market in Japan. The investment creates seamless EV charging and helps achieve carbon neutrality by 2050.
