Rental bright spark

KOBE, Japan: The first electric vehicle rental firm has been set up in Japan.

Kobe Eco Co. will start business April 5 when the bridge over the Akashi Straits opens.

It will initially operate a fleet of 40 electric vehicles.

The firm will set up recharging points at 60 locations, including tourist spots in Kobe.

Kobe Eco is capitalized at 70 million (Rp 4.33 billion) invested by eight companies, including Toyota Motor Corp. and Orix Corp.

The company targets 300 million to 400 million in first-year sales and aims to turn a profit within two years and erase cumulative losses within four years, company officials have said.

The firm expects its capital to grow to 200 million by April 5, with additional funding from auto-related firms including Nissan Diesel Motor Co. and Daihatsu Motor Co.