Barely a week after announcing a tie-up with General Motors, Honda Motor Co. says it is launching a joint venture with Hitachi Ltd., one of the world’s largest producers of motors for use in battery-electric vehicles.
Hitachi already counts a number of other automakers among its clients, including the Renault-Nissan Alliance – which produces such models as the Nissan Leaf – as well as Toyota, Ford and Volkswagen. Honda hopes to use the new joint venture not only to supply its own, growing needs but to potentially sell motors to other automakers entering the EV space.
“In pairing up with Hitachi, we’re hoping to tap into its expertise in volume production,” Honda CEO Takahiro Hachigo said during a news media briefing in Japan. “Producing motors is capital intensive,” he added, “so rather than just manufacturing them for our own purposes, we would like to produce in large volumes with the possibility of supplying a variety of customers.”