Japan’s GLM offers electric vehicle tech to Chinese carmakers

Japanese electric vehicle technology company GLM wants to become a one-stop shop for EV technology, especially for Chinese carmakers as the nation’s electric vehicle industry continues to grow.

The Kyoto-based company has developed its own technology for electric vehicle power systems, chassis and vehicle control units, all of which are customisable to fit the needs of different carmakers.

“[Our technology] will be provided for mass-market electric cars,” GLM chief financial officer Sota Nagano said in an interview with the Post. “In this sense, we might be creating competitors for [companies like Tesla].”

On Friday, GLM launched its brand in Hong Kong by showing off its EV technology in the city. The company has plans to build an office in Hong Kong and leverage the city as a gateway to the Chinese market.

China represents one of GLM’s largest potential markets, where carmakers and even Chinese internet companies like LeEco are making a big push into producing electric vehicles thanks to generous subsidies and grants from the Chinese government for both carmakers and buyers alike.

In 2015, electric and plug-in hybrid car sales in China quadrupled to 351,000. In the first half of 2016, over 170,000 such vehicles were sold, according to data from the China Association of Automobile Manufacturers.

But Nagano said that many Chinese carmakers often pour billions into research and development for electric vehicle technology without making huge breakthroughs in technology.