according to Global environmental regulations are expected to grow stricter, pushing up demand for electric vehicles, they said.
Honda, which also makes its own electric motors, has a fuel-cell vehicle and hybrids in its lineup.
It’s planning an electric vehicle for sale later this year, mostly abroad.
By YURI KAGEYAMA, AP Business WriterTOKYO (AP) — Japanese automaker Honda Motor Co. has signed a deal with Hitachi Automotive Systems to jointly develop, make and sell motors for electric vehicles, as the industry adapts to concerns over global warming and the environment.
The wholly owned subsidiary of Tokyo-based Hitachi has supplied electric motors to other automakers in the past, including General Motors Co. of the U.S. and Nissan Motor Co., which makes the Leaf electric car.
as informed in
Hitachi Automotive Systems and Honda Sign MoU Aiming to Establish a Joint Venture Company for Electric Vehicle Motors
Overview of the Joint Venture Company (planned)2.
Future scheduleThe signing of the definitive agreement for the establishment of the joint venture company is planned for the end of March 2017.About Hitachi automotive Systems, Ltd.Hitachi automotive Systems, Ltd. is a wholly owned subsidiary of Hitachi, Ltd., headquartered in Tokyo, Japan.
The company is engaged in the development, manufacture, sales and services of automotive components, transportation related components, industrial machines and systems, and offers a wide range of automotive systems including engine management systems, electric power train systems, drive control systems and car information systems.
The two companies now will conduct formal discussions regarding the establishment of the new company.Since Hitachi Automotive Systems first started selling motors for electric vehicles in 1999, it has been refining its technological and product capabilities to develop high-output, lightweight and compact electric vehicle motors.
Moreover, Honda will continue to focus on the global promotion of electric vehicles by using motors from the new company as well as the motors it currently manufactures itself in Japan.Further details of the joint venture are currently under discussion by the two companies.
as informed in
Honda, Hitachi Automotive to form EV motor joint venture
Hitachi Automotive Systems is a wholly owned subsidiary of Hitachi Ltd and longtime supplier of components including engine and brake parts to Honda.
REUTERS/Kim Kyung-HoonTOKYO Honda Motor Co Ltd and Hitachi Ltd’s auto parts subsidiary plan to form a joint venture to develop, produce and sell motors for electric vehicles (EV), joining forces to better compete in the highly specialized “green” car segment.
Honda Chief Executive Officer Takahiro Hachigo (R) and his Hitachi Automotive counterpart Hideaki Seki shake hands at a photo session after their news conference in Tokyo, Japan, February 7, 2017.
The venture will be established in July with an investment of 5 billion yen ($44.69 million), and will be 51 percent owned by Hitachi Automotive Systems Ltd and 49 percent held by Honda, the two companies said.
Other customers include Toyota Motor Corp, Ford Motor Co and Volkswagen AG (VOWG_p.DE).
about the details read more from here
collected by :Sofia Iden
visit us automotive