Hitachi Automotive Systems and Honda Establish Joint Venture for Electric Vehicle Motors
July 03 2017 - 3:19AM
JCN Newswire (English)
Hitachi Automotive Systems, Ltd. and Honda Motor Co., Ltd. today
announced the establishment of a joint venture company for the
development, manufacture and sales of motors for electric vehicles
on the premises of Hitachi Automotive Systems in Hitachinaka-shi,
Ibaraki Prefecture.
http://www.acnnewswire.com/topimg/Low_HondaAutomotive7317.jpg
As announced on February 7, 2017, the two companies have conducted
discussions based on a Memorandum of Understanding signed on
February 3, and entered into a joint venture agreement on March 24
to make more tangible preparations to establish the new company.
The newly established company will receive a financial grant from
Ibaraki Prefecture as it has been recognized as a relevant project
that "promotes the establishment of corporate head office
functions" within the prefecture.
The new company will respond to the growing global demand from
automakers for electric vehicle motors by developing competitive
motors that combine the expertise of the two companies.
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. For more information, please visit the company's website
at http://www.hitachi-automotive.co.jp/en/.
About Honda
Honda Motor Co., Ltd. (TSE:7267/NYSE:HMC/LSE:HNDA) is one of the
leading manufacturers of automobiles and power products and the
largest manufacture of motorcycles in the world. Honda has always
sought to provide genuine satisfaction to people worldwide. The
result is more than 120 manufacturing facilities in 30 countries
worldwide, producing a wide range of products, including
motorcycles, ATVs, generators, marine engines, lawn and garden
equipment and automobiles that bring the company into contact with
over 19 million customers annually. For more information, please
visit http://world.honda.com.
Source: Honda
Contact:
Honda
Media Inquiries
corporate_pr@hm.honda.co.jp
+81-3-5412-1512
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