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JATCO and the Korean MYVELO conclude an MOU regarding the provision of drive units for electric-assist bicycles

Fuji, Japan – On March 4, JATCO Ltd and MYVELO Co., Ltd. concluded a Memorandum of Understanding (MOU) regarding the supply of prototypes and a joint venture aiming for the development, production, and provision of drive units for electric-assist bicycles. As of March, JATCO is sequentially supplying 50 prototype units to MYVELO for testing and certification and will contribute to MYVELO’s competitive e-bike development, production, and provision.

MOU Signing Ceremony on March 4
(Left: JATCO CVP Eiji Ogawa, Right: MYVELO President Choi Yunho)

JATCO, as an automotive transmission manufacturer, has shipped over 125 million automatic transmissions (ATs and CVTs). With the electrification of vehicles, our plan is to provide e-Axles and other electrified powertrains to the market. On this occasion, we utilized the technologies of our electrified automotive powertrains, developed a 2-in-1 drive unit that integrates an electric-assist motor for bicycles with a gearbox, concluded an MOU with the Korean MYVELO, and as of March, are providing 50 prototype units for verification to MYVELO. MYVELO will evaluate these units. An e-bike equipped with this unit is planned to be exhibited at EUROBIKE 2024 in Germany in July 2024.

With the conclusion of this MOU, Eiji Ogawa, corporate vice president and head of JATCO’s Business Development Division, stated: “MYVELO is not only one of the top manufacturers of e-bikes in South Korea, but a global corporation with high sales results in Europe and the Americas as well. Doing business with MYVELO is a chance for worldwide recognition of our drive unit for bicycles, which is a new challenge for us, and we expect this will lead to further expansion of our business.” MYVELO president Choi Yunho commented: “JATCO’s drive unit is the world’s first 2-in-1 system to integrate a motor and gearbox, allowing us to realize a simplified layout. We look forward to the high level of quality JATCO has refined through their automotive transmissions.”

About MYVELO Co., Ltd.
Headquartered in Suncheon, South Korea and founded in 2015, MYVELO manufactures and sells e-bikes and powerchairs. They hold sales corporations in the USA and Germany, so sales are carried out not only in South Korea, but also in North and South America and Europe. In 2023, they announced and began sales of a BTS-branded e-bike model (BTS is a K-pop group).

About JATCO Ltd
Headquartered in Fuji, Shizuoka, Japan, JATCO is a leading automotive transmission and electric vehicle powertrain manufacturer, specialized in the design, development, and manufacture of automatic transmissions and CVTs. In addition to plants in Japan, JATCO has production facilities in Mexico, China, and Thailand.