Financial News
Mitsubishi Corporation and FEV Consulting Establish New Joint Venture for Materials Industry
October 27, 2022 at 07:23 AM EDT
TOKYO, Oct 27, 2022 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce its establishment on October 27, 2022 of a new joint venture company, Beyond Materials Corporation (Beyond Materials), a specialized strategy and engineering service provider that will support materials suppliers on their path to global and sustainable growth. Our partner on this joint venture is FEV Consulting GmbH (FEV).
The requirements on future product designs are becoming more sophisticated and diverse due to decarbonization and other societal demands. This has heightened interest in the functions and solutions that materials can provide, and necessitated even stronger relationships between suppliers and users of those materials, the automotive sector being a case in point. For over three years, MC and FEV have been conducting joint preliminary work to develop services targeting these industries, and our collaboration has confirmed that we share a similar dedication to addressing challenges faced by modern societies and helping them to be more sustainable.
FEV is the consulting arm of FEV Group, a German engineering services provider with a global workforce of more than 7,000 employees. FEV provides unique advice to its customers by combining long experience in top management consulting with end-to-end technical expertise, including battery systems, car bodies and more, of the FEV Group GmbH.
Beyond Materials will provide the materials industries with tailor-made solutions. Its services will extend from market research, strategy development and implementation support, to product development and demonstrations. This will be achieved by combining MC's global network and broad experience in the materials industries with FEV's intelligence on broad applications and customer requirements, engineering and product know-how, and also taking advantage of digital technologies.
MC expects this new joint venture to build a bridge between those who use functional materials and those who make them, whether that be in chemicals, metals, or ceramics and other composites. We look forward to Beyond Materials contributing to sustainable growth in global materials markets and helping us to achieve our mission to build net-zero, circular economies.
For more information, visit www.mitsubishicorp.com/jp/en/pr/archive/2022/html/0000050161.html.
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