“In pairing up with Hitachi, we’re hoping to tap into its expertise in volume production,” Hachigo said.
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Honda Motor Co. Ltd and Hitachi Ltd.'s auto parts subsidiary plan to form a joint venture to develop, produce and sell motors for electric vehicles (EV), joining forces to better compete in the highly specialized "green" car segment.The venture will be established in July with an investment of 5 billion yen ($44.69 million), and will be 51 percent owned by Hitachi Automotive Systems Ltd. and 49 percent held by Honda, the two companies said.Hitachi Automotive Systems is a wholly owned subsidiary of Hitachi Ltd. and longtime supplier of components including engine and brake parts to Honda.Other customers include Toyota Motor Corp., Ford Motor Co. and Volkswagen AG.Honda is planning to launch battery-powered and plug-in petrol hybrid versions of its Clarity fuel-cell vehicle later this year.
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