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Honda, Hitachi Automotive say to form EV motor joint venture
February 7, 2017 / 6:50 AM / 10 months ago

Honda, Hitachi Automotive say to form EV motor joint venture

TOKYO, Feb 7 (Reuters) - Honda Motor Co Ltd and Hitachi Ltd’s automotive unit said on Tuesday they would form a joint venture to develop, produce and sell motors for electric cars.

The venture will have sales and manufacturing functions in the United States and China in addition to Japan, the companies said in a press release.

The joint venture, to be established in July, will be owned 51 percent by Hitachi Automotive Systems and 49 percent by Honda, they said. (Reporting by Naomi Tajitsu and Taiga Uranaka)

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