Honda Partners With Hitachi To Make EVs By 2030

Posted: Feb 8 2017, 2:33am CST | by , in News | Cars & Vehicles

 

Honda Partners with Hitachi to Make EVs by 2030
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  • Honda and Hitachi join hands in an Electric Motors Venture
 

Both of the companies will work on building the EV market

Honda Motors Co. which is looking forward to make most of the EVs in the world by 2030 has now join hands with Hitachi in a new venture. Both of these companies are going to work on a project that will aim towards making electric motors.

The companies will make motors that will help in running the electric vehicles of the lineup prepared by Honda in the long run. As by the year 2030, Honda is planning to make 1/3 of its cars as electric cars, thus the companyis looking forward to resources that will help it in building an EV line up.

The company that will be establishes as a joint venture of these both will have a 51 percent share for Hitachi while 49 percent ownership will be given to Honda.

It is supposed to set up in July 2017. Both of the companies are going to invest a huge amount of 5 billion Yen which is equal to $44.5 million. The name of this venture is not finalized yet but we know for sure that will be established in Japan where it will also have its headquarters.

This project will also see some mass production of motors at Hitachi’s automotive plant in Kentucky and in China as well. This shows the company’s enthusiasm to fulfill the demand of electrified vehicles in market.

According to Automotive News, this project and particular alliance came in to being when finally Honda has let go of the stand along and work alone policy.

Most of the companies are gravitating towards EV module as they are working for the future vehicles that won’t have to fulfill the high demands of emission issues, safety modules and fuel efficient system thus making the EV industry a great profit market.

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