THE ASAHI SHIMBUN
March 15, 2024 at 18:22 JST
Nissan Motor Co. President Makoto Uchida, left, and Honda Motor Co. President Toshihiro Mibe attend a joint news conference on March 15 in Tokyo. (Jin Nishioka)
Nissan Motor Co. and Honda Motor Co. have signed an agreement to cooperate in the development of electric vehicles (EV) in a bid to match other Japanese automakers that have formed similar partnerships.
Nissan President Makoto Uchida and Honda President Toshihiro Mibe held a joint news conference on March 15 to announce the signing of the agreement.
Uchida noted that new automakers were presenting innovative EVs and business models. Mibe explained that the agreement will take advantage of the cost benefits that are possible through mass sales of EVs.
The two automakers will discuss ways to use the same main parts or share in the procurement of parts for EV development to cut costs.
Japanese automakers lag behind companies in the United States and China in EV sales due mainly to their long history in producing gasoline vehicles.
While Nissan revised its capital relationship with Renault SA, it still maintains ties with Renault and Mitsubishi Motors Corp. But one issue facing Nissan is how to compete in EV markets outside of Europe, where Renault has its base.
Honda has a relationship with General Motors Co. for developing EVs for the North American market, but no specific plans have been made for mass-produced EVs.
On top of that, Honda has also come out with a goal of selling only EVs or fuel-cell vehicles from 2040.
Nissan and Honda will discuss ways to cooperate in sharing parts as well as joint development of an electric drive system that would combine the motor and gears into one for the EVs.
Toyota Motor Corp. has already entered into working capital relationships for the development of EVs with Mazda Motor Corp., Subaru Corp. and Suzuki Motor Corp.
Depending on how the Nissan and Honda arrangement plays out, the move could represent a major shift in the Japanese auto industry.
(This article was written by Kohei Kondo and Takumi Wakai.)
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