folofly Inc. (Representative Director: Hiroyasu Koma; Headquarters: Kyoto, Japan), a fabless EV manufacturer, is pleased to announce that its F1VS and F1TS, Japan’s first 1-ton class last-mile commercial EVs, were certified in June 2023 as eligible vehicles for subsidies under the Commercial Vehicle Electrification Promotion Project.
This program is administered by the Low Emission Vehicle Promotion Organization (LEVO), which was selected by the Ministry of the Environment as the executing body for the “2023 (Reiwa 5) Commercial Vehicle Electrification Promotion Project (Trucks).” Under this program, the VAN-type F1VS is eligible for a maximum subsidy of ¥1,821,000, and the truck-type F1TS is eligible for ¥1,607,000.
The program is expected to soon expand to cover five models, including the existing F1V, F1T, and F1VS4. To prepare for mass delivery, folofly has established its first pre-shipment inspection facility in Kobe City, strengthening vehicle maintenance operations such as compliance checks, inspections, and repairs. Moving forward, folofly remains committed to promoting high-quality, safe, and cost-effective EVs.
For more details about the subsidies, please refer to the following:
Company History
- August 2021: folofly Co., Ltd. established at Kyoto University International Science Innovation Building
- October 2021: License obtained for Japan’s first domestically fabless-produced 1-ton class EV truck
- October 2021: Sales of EV F1 VAN commence
- October 2021: SBS Holdings announces plans to adopt 10,000 folofly vehicles
- November 2021: Battery exchange system jointly developed with JEE
- June 2022: Announcement of the flatbed EV F1 TRUCK
- July 2022: EV F1 VAN certified for Green Advanced Truck and Bus Introduction Subsidy Program
- September 2022: EV F1 VAN becomes the first 1-ton cargo EV in Japan to obtain a green license plate and begins operations
- September 2022: EV F1 VAN certified for subsidy programs
- January 2023: Completion of Series A funding
- June 2023: Launched new F1 series models, including F1VS, F1VS4, and F1TS, equipped with standard features such as electronic stability control, parking lock systems, and CHAdeMO compatibility
- June 2023: Entered a business partnership with the nationwide organization of repair shops supported by Mitsui Sumitomo Insurance, “Advance Club,” for vehicle maintenance
Company Overview
- Company Name: folofly Co., Ltd.
- Established: August 3, 2021
- Representative: Hiroyasu Koma, President
- Capital: ¥1,108,991,000 (including capital reserves)
- Headquarters: Kyoto University International Science Innovation Building, 36-1 Yoshida Honmachi, Sakyo Ward, Kyoto City
- Business: Development and sales of electric vehicles and provision of eco-friendly infrastructure services