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Honda and Hitachi set up EV joint venture

Honda and Hitachi Automotive are teaming up to develop, build and sell hybrid and full-electric vehicles. 
 
A joint venture, representing an investment of 5 billion yen (€41.8 million), will be established in June. Based in Japan, it aims to build and sell EVs in both China and the U.S. Hitachi will own 51%  of the company, Honda the rest.
 
“With environmental conservation measures and regulations increasing on a global scale, the market for electric vehicles is expected to continue to grow,” a joint press release stated.
 
Both companies maintain business relations with other partners. For instance, Honda and GM have announced recently that they will partner to mass-produce hydrogen fuel cells.
 
Image: Honda/Hitachi
08/02/2017  |  Frank Jacobs

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