SMBC invests in MobiSavi
Sumitomo Mitsui Banking Corporation has concluded an investment agreement with MobiSavi, which operates an EV data utilization business using EV performance prediction technology.
In recent years, addressing climate change and environmental issues has become an urgent global priority, and the adoption of EVs is advancing worldwide as a means to reduce environmental impact and realize a sustainable society. To accelerate EV adoption and promote long-term use, the utilization of used EVs is essential. Used EVs contribute to improved resource efficiency through vehicle and battery reuse and promote widespread adoption by reducing initial costs. However, the current reality is that performance evaluation and warranty of used batteries are inadequate, which is one of the factors hindering the formation of a used EV market.
MobiSavi provides EV implementation support services such as "FACTEV (EV Conversion Simulator)" and works to promote the adoption of new and used EVs in Japan. MobiSavi's proprietary EV performance prediction technology does not require the installation of measurement equipment and is compatible with multiple vehicle brands, enabling the acquisition of extensive prediction data. The company is currently in discussions with relevant parties to utilize accumulated prediction data for EV battery performance warranty services.
Sumitomo Mitsui Financial Group has established "Creation of Social Value" as one of the pillars of its current medium-term management plan. The Group has designated "Environment" as one of the priority issues to be actively addressed and has been working to promote the circular use of EV batteries through participation in the "EV Battery Smart Use Council" and "GBNet Fukuoka."
Additionally, the Group has established a "Social Value Creation Investment Framework" as one of the frameworks to support co-creation and development with customers that contribute to social value creation, as well as the development of new technologies and industries through risk-taking.
This investment utilizes this "Social Value Creation Investment Framework," and with this investment in MobiSavi as a catalyst, the SMBC Group will work as a unified entity to further contribute to the formation of the used EV market and the realization of a circular economy for EV batteries.
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