Two Japanese giants – Hitachi and Honda – have announced the formation of a new joint venture company to develop and produce electric motors.
The memorandum of understanding was signed on 3 February and the new joint venture company plans operations in Japan, North America and China.
Hitachi brings to the table technology and development of lightweight electric motors , produced since 1999 and sold in large numbers to vehicle manufacturers in Japan and throughout the world.
Coincidentally, Honda launched its first Insight hybrid vehicle in the same year (1999) and has been at the forefront of electric motor development.
With the market for electric vehicles continuing to grow (under the umbrella of ever tightening global regulations), the joint venture company will be looking to supply electric motors both for Honda and Hitachi as well as other vehicle manufacturers.
Hitachi will continue to supply electric motors to its existing customers and Honda will continue to manufacture its own electric motors.
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