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Honda, Hitachi Partner on EV Motors
Honda Motor Co. and Hitachi Automotive Systems Ltd. are launching a joint venture in July to develop and make motors used to propel electric and hybrid cars.
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Honda Motor Co. and Hitachi Automotive Systems Ltd. have agreed to launch a joint venture in July to develop and make motors used to propel electric and hybrid cars.
The partners hope to sign a definitive agreement to launch the venture by the end of March. Their aim is to introduce economies of scale and enhance each other’s technological capabilities.
The unnamed company will make and market its motors to multiple carmakers through operations in China and the U.S. The venture, to be headquartered in Hitachinaka, Japan, will be launched with an initial investment of 5 billion yen ($45 million) and be 51% owned by Hitachi Automotive.
Hitachi has supplied electric motors for EVs since 1999. Among it customers since then are General Motors and Nissan.
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