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Business

Toyota, Mazda, Denso creating company to hasten electric car development

Japanese automakers eager to begin rolling out models in 2019

TOKYO -- Toyota MotorMazda Motor and Denso on Thursday announced they are jointly setting up EV C.A. Spirit, a company to promote the development of electric vehicles.

Toyota will own a 90% stake in the company. Mazda and Denso will equally split the remainder. EV C.A. Spirit will be capitalized at 10 million yen ($88,386).

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