20 October 2023

Suzuki Invests in Inmotive through

Corporate Venture Capital Fund, Suzuki Global Ventures

Suzuki Motor Corporation (hereinafter "Suzuki") has invested in Inmotive Inc. (Headquarters: Ontario, Canada; CEO: Paul Bottero; hereinafter "Inmotive") through Suzuki's corporate venture capital fund, Suzuki Global Ventures (hereinafter "SGV").

Inmotive develops a lightweight, compact, and efficient 2-speed EV transmission. Suzuki and Inmotive agreed for joint development of 2-speed EV transmission in December 2022, and have since been working together for its development.

The two companies believe that the joint development has the possibility of extending electric vehicle range through efficient use of motor torque while also lowering costs due to using a smaller electric powertrain unit and improving driving performance in various driving scenes. With this investment, we will accelerate the development.

Toshihiro Suzuki, President, said "This investment further enhances our close working relationship with Inmotive, and we will take great strides toward a successful deployment of the 2-speed transmission on Suzuki vehicles. Through SGV, we will continue to make investments that address key issues globally."

Outline of Inmotive

●Company name:

Inmotive Inc.

●Headquarters:

Toronto, Ontario, Canada

●Representative (CEO): Paul Bottero

●Established:

2010

●Business outline:

Development of 2-speed EV transmission "Ingear"

●URL:

https://www.inmotive.com/

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Suzuki Motor Corporation published this content on 20 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2023 05:12:32 UTC.