SIM-Drive Corporation (Head Office: Kawasaki-shi, Kanagawa-pref., President: Hiroshi Shimizu, hereafter called “SIM-Drive”) and Tokyo R&D Co., Ltd. (Head Office: Chiyoda-ku, Tokyo, President & CEO: Masao Ono, hereafter called “Tokyo R&D”) jointly established “stEVe Inc.” (hereafter called stEVe) on July 21, 2011 as a joint venture which operates in the field of converted electric vehicle developments.

stEVe (SIM-Drive, Tokyo R&D Electric Vehicle Engineering), will focus on the development, manufacturing and sales of converted electric vehicles using the SIM-Drive components and technology and the associated intellectual properties. The vision of the founders is to contribute to the fast growth and distribution of electric vehicles as they see Electric Vehicles as an essential contribution to solve energy & environmental issues like global warming.