Memorandum of Understanding on “Electric Power Services × Electric Micro-Mobility Services”
Aimed at Advanced City Developments

Oct. 14. 2020
Marubeni Corporation
mobby ride Inc.

In October 2020, Marubeni Corporation (hereinafter, “Marubeni”) and mobby ride Inc. (hereinafter, “mobby ride”) signed a Memorandum of Understanding (hereinafter, “MOU”) to verify joint business potentials regarding advanced city development through the combination of electric power services and electric micro-mobility*1 services.

Marubeni’s Domestic Power Department ran an open innovation program – “Marubeni Accelerator 2018” in November 2018 with the aim of creating new business in the domestic power market with startup companies. Of the numerous applications received, mobby ride was one of the companies selected by Marubeni for collaboration throughout the year. Marubeni and mobby ride conducted the first unmanned operated e-scooter lending demonstration test in Japan, in Hamamatsu Flower Park (Hamamatsu City, Shizuoka Prefecture) in 2019. Since then, the two companies have been working closely with multiple local governments and companies to improve the convenience of transportation and verify the economic effects of mobility business.

This MOU tethers mobby ride’s electric micro-mobility services with the electric power retail business, the renewable energy power generation business, community-based business development, and other environmental solution services that utilize Marubeni's comprehensive strengths. The two companies combined shall pursue improvement in the diversity and convenience of transportation, thereby reducing the environmental burden of transportation, revitalizing regional economies, and making people's lives richer and more convenient.

Marubeni and mobby ride will aim to develop advanced cities by providing transportation solutions and reducing the environmental burden of transportation by popularizing micro-mobility services that utilize renewable energy as their main power source.

In expanding its purview in the power business, Marubeni will explore the possibility of a new electric power service business in the mobility field.

In continuing to strive towards the optimum social implementation of electric micro-mobilities, mobby ride will also consider environmentally conscious products and services.

*1 Micro-mobility : refers to personal vehicles that can carry one or two passengers.

<An example of mobby ride’s micro-mobility product : e-scooter> <An example of mobby ride’s micro-mobility product : e-scooter>
<Marubeni Corporation>
President and CEO Masumi Kakinoki
Head Office Tokyo Nihombashi Tower, 7-1, Nihonbashi 2-chome, Chuo-ku, Tokyo, 103-6060, Japan
Paid in Capital JPY 262,686 million
Incorporated Date Dec. 1. 1949
Main Business Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business activities across wide-ranging fields including lifestyle, ICT & real estate business, forest products, food, agri business, chemicals, energy, metals & mineral resources, power business, infrastructure project, aerospace & ship, finance & leasing business, construction, industrial machinery & mobility, and next generation business development. Additionally, the Marubeni Group offers a variety of services, makes internal and external investments, and is involved in resource development throughout all of the above industries.
Web Site https://www.marubeni.com/en/
<mobby ride Inc.>  
CEO Ryo Hyuga
Head Office Fukuoka Growth Next 2-6-11 Daimyo Chuo-ku Fukuoka, Japan
Incorporated Date Aug. 3. 2017
Main Business Mobility Sharing Business
Web site https://mobbyride.jp/