Honda and Hitachi form JV to produce electric motors
Honda and Hitachi creates a joint venture company supplying electric vehicle motors to meet growing demand.
The Japanese auto and component majors have come together to form a JV company, based in Japan to co-develop and produce electric motors for future vehicles, for both Honda as well as other automotive OEs.
The JV, christened Hitachi Automotive Electric Motor Systems, sees Hitachi holding a majority stake of 51 percent, while Honda controls 49 percent . The plans for this structure were first revealed earlier this year, in February. The new unit has now become operational from Hitachi Automotive Systems’ existing facility in Hitachinaka-shi, Ibaraki Prefecture, Japan.
Both Honda and Hitachi have jointly invested a total of $ 44 million in the new venture, which will produce high-spec electric motors, sufficient for Honda’s in-house consumption, as well as for supply to other automotive companies, which are working on electric vehicles.
Challenges to bring in sustainable mobility solutions worldwide and stringent emission norms have led to automakers looking at alternative sources of powering vehicles, and reducing their dependency on conventional fuels.
EVs and hybrids form the major chunk of these new technological developments, with 2030 being envisioned as a landmark year in many countries for a tectonic shift to be taking place in the area of mobility.
RELATED ARTICLES
ZF Foxconn Chassis Modules plots speedy growth with top tier customers
ZF Foxconn Chassis Modules, which supplies global premium and volume manufacturers and is represented at 25 locations wo...
Visteon opens high-tech automotive testing lab in Bulgaria
The facility, which is equipped with cutting-edge technology and houses over 70 highly skilled engineers, expands the co...
Honda to invest $11 billion in building EV value chain in Canada
In line with its plan to set up an environmentally responsible EV and battery plants in Ontario, the Honda EV value chai...