Hitachi Automotive Systems, Ltd. and Honda Motor Co., Ltd. have announced the establishment of a joint venture company for the development, manufacture and sale of electric vehicle motors. The new company, Hitachi Automotive Electric Motor Systems, Ltd, will reportedly be located at Hitachi Automotive Systems’ site in Hitachinaka-shi, Ibaraki Prefecture, Japan.
The two companies began discussions in early 2017, following the signing of a Memorandum of Understanding on February 3, and entered into a joint venture agreement on March 24 to launch more tangible preparations to establish the new company. Hitachi Automotive Electric Motor Systems, Ltd will receive a financial grant from Japan’s Ibaraki Prefecture as a relevant project that it believes will promote the establishment of corporate head office functions within the prefecture.
According to Honda and Hitachi, the venture aims to respond to the growing global demand from auto makers for electric vehicle motors by developing competitive motors that combine the expertise of the two companies. Noboru Yamaguchi has been announced as the company’s President.