Under the terms of the agreement disclosed in a Tuesday exchange filing, Minth’s Canadian subsidiary and Aisin Corp. will each hold a 40% stake in the venture, while Toyota Tsusho—a member of the Toyota Group—will retain the remaining 20%. The collaboration aims to capitalize on the increasing industry transition toward lightweight technology, which is essential for extending the range of electric vehicles.

Strategic Expansion in Ontario

The move comes as Canada aggressively pursues foreign manufacturing investments to support its domestic metals and automotive sectors. This push follows a period of trade volatility and sectoral tariffs that have reshaped regional trade dynamics. By establishing a footprint in Ontario, the partners intend to secure a stable supply of high-demand aluminum components for major automakers operating across the continent.

Market reaction was swift, with Minth's stock jumping as much as 4.0% in early Hong Kong trading, marking its highest point since January 2021. While the shares later pared some gains to close 0.4% higher, investor sentiment remains buoyed by the prospect of deeper integration with Japanese OEMs.

According to a note from Citi analysts Kyle Wu and Jeff Chung, the partnership is expected to significantly increase order intake from Toyota and other regional manufacturers. The analysts project that ATM Automotive will reach mass production by the end of 2027, positioning the joint venture to meet the next wave of automotive manufacturing requirements in the North American market.