Honda Cites Growing Electric Car Demand for Hitachi Venture
- Honda, Hitachi Automotive to develop motors for electric cars
- Honda-Hitachi venture plans to manufacture in U.S., China
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Honda Motor Co. plans to set up a joint venture with Hitachi Automotive Systems Ltd. to develop, produce and sell motors for electric vehicles, citing the expected increase in demand for electric autos with tougher environmental standards.
The joint venture has plans to manufacture in Japan, U.S. and China, and will consider using Hitachi’s existing plants in those countries, Hitachi Automotive Chief Executive Officer Hideaki Seki said at a briefing in Tokyo Tuesday. The new company will also sell to automakers other than Honda if there’s demand, he said.