Honda and Hitachi want to build electric motors
Honda and Hitachi Automotive have signed a Memorandum of Understanding that will lead to a joint venture to build motors for electric vehicles. With a Memorandum of Understanding MoU, Hitachi Automotive Systems and Honda Motor confirm the formation of a joint venture to develop, build and sell motors for electric vehicles. Hitachi [...]
With a Memorandum of Understanding MoU, Hitachi Automotive Systems and Honda Motor confirm the formation of a joint venture to develop, build and sell motors for electric vehicles. Hitachi Automotive has been selling electric vehicle motors since 1999 and has been continuously improving its technology and development capabilities ever since. Today, this allows Hitachi to quickly develop powerful, lightweight and compact electric motors. Also in 1999, Honda launched its first hybrid vehicle, the Insight, and has been working steadily on expanding its range ever since. The merger of a supplier and a vehicle manufacturer should create technological and commercial synergies and generate the necessary competitive strength for both in the core technology of every electric vehicle. If Honda and Hitachi are successful in implementing the MoU, the Japan-based new company will also establish sub-companies with production and sales capabilities in China and the US. Honda and Hitachi expect to have concluded the negotiations by March 2017.
