Nissan and Honda to jointly produce EVs
The plan is that both parties would sign a memorandum of understanding which would see them rival their Chinese counterparts.
Nissan’s board of directors recently decided to consider partnering with Honda to produce electric vehicles. The plan is that both parties would sign a memorandum of understanding which would see them rival their Chinese counterparts although areas of cooperation were yet to be decided.
The memorandum of understanding would allow Nissan to collaborate freely with Honda without compromising on its alliance with Renault, having made plans to invest $656 million in its new vehicle.
Nissan with a net valuation of $14.7 billion and Honda with a net valuation of $56.83 billion saw their shares plummet last year in China, the world’s number one auto market amid heavy competition from other vehicle makers. This could necessitate them to focus on other viable markets as they reduce production in the Chinese market.
