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.
| 08/02/2017 | Frank Jacobs