FOMM
Compact, amphibious electric vehicles for urban mobility.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
$20.0m | Late VC | ||
| Total Funding | 000k | ||
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FOMM Corporation is a Japanese research and development-oriented manufacturer specializing in compact electric vehicles (EVs). Founded in February 2013 by Hideo Tsurumaki, a veteran engineer from Suzuki Motor and Toyota, the company focuses on creating mobility solutions for short-distance travel, encapsulated in its name, which stands for "First One Mile Mobility". Tsurumaki's experience includes the development of Toyota's ultra-small single-rider EV, the "COMS". The inspiration for FOMM came after the 2011 Great East Japan Earthquake and tsunami, which created a need for a vehicle that could withstand flooding.
The company's flagship product is the "FOMM ONE," the world's smallest class four-seater EV, which began mass production in Thailand in March 2019. A key feature of the vehicle is its ability to float and move on water, driven by specially designed turbine-shaped wheels. This amphibious capability is a direct response to the flood risks prevalent in its initial target market of Southeast Asia. The FOMM ONE features in-wheel motors to maximize interior space, a range of up to 160 kilometers, and can be charged from a standard household outlet. It also utilizes a swappable battery system, supported by a cloud-based service developed in partnership with Fujitsu to manage battery status and exchange station inventory.
FOMM's business model involves both vehicle sales and the development of related infrastructure and services. The company has established a joint venture in Thailand, FOMM (Asia) Co., Ltd., to produce and market its vehicles, with a significant portion of parts sourced locally. Beyond manufacturing, FOMM is exploring services such as converting conventional gasoline-powered cars into EVs and providing battery-swapping services. The company has received venture capital funding from investors including Banpu, a Thai energy company, which acquired a 21.5% stake in 2019.
Keywords: compact electric vehicle, urban mobility, amphibious vehicle, EV manufacturing, battery swapping, in-wheel motor, first one mile mobility, flood-proof car, sustainable transport, micro-mobility, EV conversion, Japanese automotive, Southeast Asia market, cleantech, mobility solutions, Hideo Tsurumaki, FOMM ONE, battery cloud service, smart mobility, vehicle development