• Bloomberg


Oil refiner Idemitsu Kosan Co. plans to market an electric vehicle this year, making it the first non-automaker in the country to step into the market, the Nikkei newspaper reported Sunday, without citing sources.

Idemitsu has partnered with Tajima Motor Corp. to build a four-passenger car that can travel as fast as 60 kilometers per hour (37 mph), the report said. The car will be 2.5 meters (8.2 feet) long and 1.3 meters (4.3 feet) wide. It will cost between ¥1 million and ¥1.5 million, Nikkei reported.

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