Nissan and Honda confirm cooperation – including on electric cars
Honda writes in an official announcement that both companies have signed a letter of intent “to strengthen environmental and electrification technologies as well as software development.” The competitors agree that it is necessary to combine strengths and examine the possibilities of future cooperation.
According to Makoto Uchida, Nissan’s President and CEO, it is crucial to prepare for the increasing pace of change in mobility in the medium to long term – and that “it is important to prepare for the increasing pace of transformation in mobility in the mid-to-long-term, and it is significant that we have reached this agreement based on a mutual understanding that Honda and Nissan face common challenges.” Nissan is looking forward to further discussions and is endeavouring to find win-win situations for sustainable growth, Uchida says.
Toshihiro Mibe, Honda’s Director and President, adds: “In this period of once-in-a-century transformation in the automotive industry, we will examine the potential for partnership between Nissan and Honda. Our study criteria will be whether the synergy of the technologies and knowledge that our companies have cultivated will enable us to become industry leaders by creating new value for the automotive industry.”
That the two Japanese manufacturers were looking to work together had already been leaked yesterday. The information was mainly based on reports from TV Tokyo and Nikkei Asia, which relied on insiders. TV Tokyo stated that both sides were discussing an alliance in as yet undefined fields. Nikkei wrote more precisely that Nissan and Honda could work together on electric vehicles to better compete with Chinese rivals.
It recently became known that Nissan and Honda are planning to significantly reduce their production capacities in China because they are allegedly struggling to keep up with Chinese competitors in the race for electric cars. However, this will be merely a reduction in production capacity and not a (partial) sale of shares in the respective China joint ventures.
Citing several Nissan sources, Nikkei reported yesterday that both Japanese companies are considering the introduction of a joint powertrain, joint procurement, and the development of a joint platform. Moreover, the cooperation could “possibly” also extend to the procurement of batteries and the joint development of electric vehicles.
Nissan is standing firmly alongside Renault when it comes to EVs, especially in Europe. Nissan’s next electric Micra will be built on the same platform as the recently unveiled Renault 5, but both sides have somewhat loosened their alliance in 2023. Since then Renault has also been cooperating with new partners, such as Geely.
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