Japanese EV Sales Company Seeks Bankruptcy Protection

Fukuoka, April 15 (Jiji Press)--An electric vehicle sales company based in the city of Kitakyushu, Fukuoka Prefecture, southwestern Japan, has filed for bankruptcy protection with Tokyo District Court under the civil rehabilitation law.

The application, filed Tuesday, was accepted immediately, EV Motors Japan Co. said the same day. Liabilities left by EVMJ totaled 5.7 billion yen.

EVMJ faced poor new EV sales and ran into funding difficulties, after the company conducted a recall following the discovery of problems in vehicles including electric buses that were supplied to subway and bus operator Osaka Metro Co. for the 2025 World Exposition in the western Japan city of Osaka.

Osaka Metro stopped using all of the buses and notified EVMJ of the cancellation of their contract.

EVMJ said it hopes to promptly find a sponsor to facilitate its business rehabilitation. "We sincerely apologize for the great inconvenience we have caused," the company said.

[Copyright The Jiji Press, Ltd.]