Honda and Hitachi creates a joint venture company supplying electric vehicle motors to meet growing demand.
04 Jul 2017 | 4815 Views | By Mayank Dhingra
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 ...
This is an Autocar Pro Plus article. Subscribe to continue reading.
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.