Quantum Solutions Co. Ltd. announced that a major shareholder has granted a 400-million-yen loan to begin production of its first EV model with its joint-venture partner. This is a crucial step towards Quantum solidifying its position in electric vehicles as it begins production, in order to capture commercial opportunities in the Japanese market with a unique product that harnesses Japan's long tradition of auto engineering expertise and takes advantage the already strong market share of micro cars, which are also known as kei cars in Japanese.

FOMM Corporation (FOMM), Quantum's joint-venture partner, will serve as the original equipment manufacturer (OEM) for the FOMM ONE, which is one of the world's smallest four-seat EVs and already has road approval from governments in both Japan and Thailand. The FOMM ONE is also the world's only EV that is designed to float in water, which makes the car suitable for handling flash floods and natural disasters. Partnering with FOMM is significant, as the company was founded in 2013 by auto engineers who previously developed EVs at Suzuki Motor Corp, and has since been working to design, research and develop FOMM ONE and other EV models and mobility solutions.

The FOMM ONE was developed with the needs of the Japanese market in mind. Over one-thirds of domestic auto sales annually are kei cars. Kei means light in Japanese, a vehicle category in which the FOMM ONE belongs and is in fact one of a small handful of EV's approved in this category.

The FOMM ONE will be sold both to consumers and to organizations that operate fleets of cars used for regular tasks such as security patrols and parcel delivery, offering customers an affordable way to switch over to EVs from internal combustion engine (ICE) cars and reduce dependence on fossil fuels.