This photo shows an image of a commercial EV designed by IAT Automobile Technology Co. (Photo courtesy of Itochu Corp./NNA/Kyodo)

       TOKYO (NNA/Kyodo) -- Itochu Corp. has tied up with Beijing-based car engineering firm IAT Automobile Technology Co. to explore business opportunities in global markets outside China.

       The two companies have agreed on cooperation in a range of EV-related business, including promoting sales of IAT-designed EV vans and relevant components as well as creating opportunities for vehicle development, the Japanese trading house said.

       IAT has engaged in automotive product planning, designing and customizing as well as auto parts development since its founding in 2007. It deals with both gasoline and electric vehicles, having started EV development in 2009.

       It is one of the major independent auto engineering companies in China with a 1,700-strong workforce in research and development activities and its customer list has more than 60 carmakers based in Europe, Japan, South Korea and China.

       Itochu plans to optimize the partnership with IAT for marketing compact EV vans for delivery and distribution services, particularly in Asian countries, many of which have yet to see an EV market fully take off.

       Itochu has beefed up its presence in the commercial EV industry. In late September, it announced a strategic partnership with Dishangtie Car Rental (Shenzhen) Co., a leading Chinese commercial EV leasing service firm, for business in Japan and the Association of Southeast Asian Nations region.

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