Nissan Motor has established a new company Nippon Charge Service in collaboration with Toyota Motor Corporation, Honda Motor, and Mitsubishi Motors Corporation to form a single charging network in Japan.

The consortium stated that the new entity is aimed at promoting the installation of chargers for electric-powered vehicles such as PHVs, PHEVs, EVs and to expand the use of electric-powered vehicles.

Development Bank of Japan (DBJ) has extended financial support for the joint project of the four automakers through its 'Fund for Japanese Industrial Competitiveness.'

The launch of a new company is on the back of November 2013 partnership between Toyota, Nissan, Honda and Mitsubishi to financially assist installers of charging stations. The consortium using the government subsidies commenced taking applications from potential charging station installers.

The businesses and operations interested to open charging spots at locations, such as commercial facilities and lodging facilities, and en-route charging spots at highway service and parking areas, and convenience stores and service stations on regular roads will be provided financial aid.

Nippon Charge Service will manage the chargers, while the installers of charging stations will participate in the charging infrastructure network operated by the company.

In addition, the four automakers will also provide car owners with a universally accepted charging card, following the launch of the system by the end of the year.