Quantum Solutions and China’s Singulato Motors Partner Up for EV Development

Electric vehicle (EV) maker Quantum Solutions, listed on the Tokyo Stock Exchange, announced that China's Singulato Motors (Shanghai) has signed a letter of intent with the company to collaboratively develop and produce electric vehicles as Quantum shifts its aim to providing affordable mobility solutions required for the world’s transition to a net carbon-zero society.

Subject to approval by Quantum's board of directors after a period of due diligence, the collaboration will give Quantum access to Singulato's SUV and small car EV platform technology, which comprises a market-leading smart car networking system.

Additionally, Quantum will expand its access to China, the world's largest EV market.

Simon Zhang, Chief Executive, Quantum's overseas platform, said, "This is an important collaboration because this will strengthen our research and development (R&D) and highlights the potential for cooperation between Japan and China in the expanding market for EVs."

“The agreement reached with Singulato marks the latest step Quantum has taken in building a global EV production network with cutting-edge intellectual property needed to fulfill the company's mission of meeting the growing demand for low-cost EVs,” Zhang added.

Quantum acquired the rights to produce and market the FOMM ONE from its JV partner FOMM in select regions in January. FOMM ONE makes use of patented technology invented by engineers who were involved in EV development at Japan's Araco. (currently Toyota Auto Body).

Many Chinese and Japanese engineers currently work at Singulato, and its small car EV model iC3 uses platform technology licensed from a major Japanese automaker.