Demonstration Experiment Conducted to Examine Business Use of Single-Seater Mobility 'mibot' Developed and Sold by Investee

Scene from the test ride event

Chugin Capital Partners (Okayama City, President Hiroyuki Okada) conducted a demonstration experiment in collaboration with its investee KG Motors Co., Ltd. (Higashihiroshima City, Hiroshima Prefecture, President Kazushige Kusunoki, hereinafter 'KG Motors') to explore the business use of the company's single-seater mobility 'mibot'.

KG Motors is engaged in the development of single-seater compact mobility suitable for short-distance travel, aiming for the social implementation of compact transportation means for daily use. The company is advancing the establishment of a mass production system, contributing to the diversification of transportation and solving local mobility challenges.

In this demonstration experiment, test ride opportunities were provided at the group's sales offices and related departments, verifying potential usage in actual business scenarios such as sales activities and short-distance travel. Through interviews and questionnaires with users, opinions were collected on vehicle size, driving performance, and expected usage scenarios. Based on these findings, the group will first introduce 'mibot' at two locations and proceed with its use in business scenes such as sales activities and short-distance travel.

Furthermore, leveraging insights gained through actual use, the company plans to provide information and collaborate with regional corporate clients to promote its use as a new means of transportation.

The group will continue to explore new possibilities for mobility utilization in the region through collaboration with investee companies, thereby creating new value for local communities.

Investee name (Head office location)

KG Motors Co., Ltd. (Higashihiroshima City, Hiroshima Prefecture)

Representative

Kazushige Kusunoki

Business description

Development, manufacturing, and sales of single-seater EVs; MaaS business

Company HP

https://kg-m.jp/

YouTube page

【mibot】KG Motors

Documentary video that reveals everything so far: 'mibot Episode Zero'

https://www.youtube.com/watch?v=jFrK2x14x0Q

【Comment from Mr. Kusunoki, President of KG Motors Co., Ltd.】

Chugin Capital Partners not only invested in our company but also provided comprehensive support from the PoC at the Chugin Group's actual business sites to the actual delivery of vehicles. We are deeply grateful for their attitude of verifying investee efforts within their own group as a market and bringing them to fruition.

What became clear through this PoC is that 'mibot' precisely fits the business travel market of retail sales at regional banks, which existing vehicles could not cover. The same travel structure exists widely in local cities nationwide, including regional banks, medical and welfare services, government, and delivery services. Taking the momentum gained in Okayama as a starting point, we aim to deliver 'mibot' to regional markets across the country together with the Chugin Group.

【Comment from Mr. Hiroyuki Okada, President of Chugin Capital Partners Co., Ltd.】

Through this demonstration experiment, we have realized that 'mibot' has sufficient potential as a product that updates the concept of conventional transportation, both in terms of solving local mobility challenges and reducing environmental impact.

We look forward to seeing 'mibot' running in various towns in different usage scenarios.

As a company, we will support such innovative initiatives through collaboration with our investee KG Motors, and by promoting implementation within our group, we will provide new value to local communities.

Chugin Financial Group Co., Ltd.

Phone: 086-223-3110 Public Relations Center: Okajima (ext. 2255)