The new company, Nippon Charge Service, will look to drive up the number of chargers and will be supported by Development Bank of Japan Inc under its "Fund for Japanese Industrial Competitiveness."

The firms added: ‘The companies are aiming for broader acceptance of electric vehicles by building a user-friendly infrastructure that will help society maximise the possibilities of electric vehicles.’

Last year, the four carmakers jointly announced a plan to financially assist installers of charging stations helped by government subsidies. The programme has been set up to provide financial assistance to businesses and operations to establish charging spots in key locations, such as at commercial facilities and lodging facilities, as well as en-route charging spots at highway service and parking areas, and convenience stores and service stations on regular roads.

Nippon Charge Service will manage the chargers, and the installers of charging stations will be asked to participate in the charging infrastructure network operated by Nippon Charge Service.

Under the new company, the carmakers will also provide a universally accepted charging card, intended to be up and running by the end of the year.