Recognized for its success as a top player in the 1-ton commercial EV sector and its ongoing efforts to create new industries
Kyoto-based folofly Co., Ltd. (CEO: Hiroyasu Koma) announced that it has received the Minister of Economy, Trade and Industry Award at the “24th Japan Venture Awards” hosted by the Organization for Small & Medium Enterprises and Regional Innovation on December 11.
The Japan Venture Awards honors entrepreneurs leading innovative, high-potential growth businesses that address societal challenges. It aims to highlight such leaders as role models, encouraging entrepreneurship and fostering a startup-friendly environment in Japan.
The Minister of Economy, Trade and Industry Award is presented to exemplary entrepreneurs demonstrating exceptional innovation and the potential to revolutionize industries and solve societal issues.
Leveraging expertise in EV sports car development, Folofly has applied its know-how to commercial EVs, addressing societal challenges such as “Logistics 2024” and corporate decarbonization. To date, the company has partnered with over 100 organizations nationwide, ranging from major corporations to local governments and leasing firms. Within just three years of its founding, Folofly has achieved market leadership in the 1-ton commercial EV category and turned a profit.
As one of Japan’s few serial entrepreneurs, CEO Hiroyasu Koma has participated in the establishment of 20 companies, fostering innovation and industry creation. These efforts have earned him recognition as a role model entrepreneur, culminating in this prestigious award.
CEO Hiroyasu Koma’s Comments:
“I am deeply honored to receive this prestigious award. Our business model reflects Japan’s strengths in collaborative horizontal specialization rather than monopolistic approaches. By combining resources from established companies with innovative technologies from startups, we aim to drive groundbreaking innovation. We will continue to grow in ways worthy of this award, contributing significantly to Japan’s economy.”
Moving forward, folofly will collaborate with forward-thinking companies to realize a sustainable society, enhancing support services and developing EV models tailored to logistics needs. The company remains committed to balancing economic growth and ecological sustainability.
■About folofly’s F1 Series – Meeting Decarbonization Demands in the Commercial Automotive Sector
With a horizontal specialization model focusing on domestic product development and external manufacturing, Folofly has developed Japan’s first 1-ton payload EV trucks, the F1V and F1T, at twice the speed of conventional methods. The F1VAN received its commercial license in September 2022 and has since been adopted across Japan, from Hokkaido to Okinawa.
In 2023, folofly launched new models with enhanced safety and convenience features. In July, the vehicles were designated as eligible for subsidies under a government program promoting commercial EV adoption.
■Company Overview:
Name: folofly Co., Ltd.
Established: August 3, 2021
CEO: Hiroyasu Koma
Capital: ¥1,309,780,000 (including capital reserves and capital surplus)
Headquarters: 93 KRP Building 4, Chudoji Awata-cho, Shimogyo-ku, Kyoto
Business: EV development and sales, environmentally friendly infrastructure services