Nissan and Honda sign strategic partnership MoU in Tokyo
The pact targets joint electrified and intelligent mobility
Nissan Motor Co., Ltd. (Nissan) and Honda Motor Co., Ltd. (Honda) have signed a Memorandum of Understanding to forge a joint path towards electrified and intelligent mobility.
The agreement between the two globally renowned and leading Japanese automotive manufacturers sets the stage for a feasibility study into a strategic partnership focusing on vehicle electrification and intelligence.
The move, unveiled in Tokyo on March 15, 2024, underscores both companies’ commitment to hastening efforts towards carbon neutrality and eliminating traffic-related fatalities.
Chinese Dragon emerges
Like the European and American sectors, the legacy Japanese automotive industry faces growing and intense competition from leading new-age Chinese automakers such as Chery, Geely, and BYD.
These three world-class Chinese auto companies are ramping up production of electric vehicles (EVs) at an unprecedented pace. They are capturing virgin EV markets across Western Europe, Russia, and the Middle East.
Recognising the imperative of bolstering environmental and electrification technologies alongside software development, Nissan and Honda are poised to pool their strengths and explore avenues for future collaboration.
The feasibility study’s ambit encompasses automotive software platforms, core components of EVs, and complementary products.
Makoto Uchida, President and CEO of Nissan, said: “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.”
Toshihiro Mibe, Director, President and Representative Executive Officer of Honda, said: “In this period of once-in-a-century transformation in the automotive industry, we will examine the potential for partnership between Nissan and Honda.
New value proposition
“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.”
The envisaged collaboration between Nissan and Honda holds promise for advancing technological frontiers and shaping the trajectory of the global automotive landscape in line with evolving consumer demands and global sustainability imperatives.
As Nissan and Honda discuss their partnership proposal, the stakeholders eagerly anticipate the emergence of innovative solutions poised to redefine the automotive industry’s future.
Featured image: (L-R) Makoto Uchida and Toshihiro Mibe officially announce their new partnership in Tokyo on March 15, 2024. Credit: Nissan/Honda
Last Updated on 10 months by Arnold Pinto
