Nissan and Honda, Japan's second and third largest automakers, have announced a collaboration to develop electric vehicles and auto intelligence technology. This partnership aims to address the challenges faced by Japanese automakers in these sectors, where they have lagged behind global competitors.
The details of the non-binding agreement are still being finalized, but the companies plan to jointly develop core technologies while maintaining distinct product lines. Nissan CEO Makoto Uchida emphasized the urgency of developing technological solutions, stating that "we don't have time." Honda President Toshihiro Mibe highlighted the shared values between the companies and the potential for "synergies" in facing their formidable rivals.
The global automotive industry is rapidly transitioning towards electric vehicles, driven by concerns about emissions and climate change. However, Japanese automakers have fallen behind rivals such as Tesla and BYD in EV development, partly due to their historical success with combustion engine vehicles. Toyota, the world's largest automaker, has expressed reservations about a complete shift to EVs, citing the lack of charging infrastructure, and has instead focused on hybrid vehicles.
Nissan has a relatively strong position in EVs among Japanese automakers, having introduced the Leaf in 2010. The announcement of the Nissan-Honda agreement led to significant increases in the stock prices of both companies, reflecting high expectations for the partnership. The executives stated that no mutual capital ownership is currently involved, but they may explore this possibility in the future.