Nissan-Honda partnership: Japanese companies to join hands for EV collaboration

New Delhi,UPDATED: Mar 15, 2024 17:25 IST

Japanese auto giants Nissan Motor Company and Honda Motor Company today announced that they have signed a memorandum of understanding (MoU) under which they will begin a feasibility study of a strategic partnership in the fields of vehicle electrification and intelligence.

To further accelerate efforts toward carbon neutrality and zero traffic-accident fatalities, it will be essential to strengthen environmental and electrification technologies as well as software development, Nissan said in an official statement.

The two companies have reached an understanding based on the belief that it is necessary to combine their strengths and explore the possibility of future collaboration, it added.

The scope of the feasibility study includes automotive software platforms, core components related to electric vehicles (EVs), and complementary products.

"It is important to prepare for the increasing pace of transformation in mobility in the mid-to-long-term, and it is significant that we have reached this agreement based on a mutual understanding that Honda and Nissan face common challenges. We look forward to further discussions and aim to find win-wins for sustainable growth," said Makoto Uchida, President and CEO, Nissan Motor Company.

"In this period of once-in-a-century transformation in the automotive industry, we will examine the potential for partnership between Nissan and Honda. Our study criteria will be whether the synergy of the technologies and knowledge that our companies have cultivated will enable us to become industry leaders by creating new value for the automotive industry," said Toshihiro Mibe, Director, President and Representative Executive Officer, Honda Motor Company.