Hitachi Automotive Systems and Honda Sign MoU Aiming to Establish Joint Venture Company for Electric Vehicle Motors

Tokyo, February 7, 2017 --- Hitachi Automotive Systems, Ltd., and Honda Motor Co., Ltd., today announced the signing of a Memorandum of Understanding ("MoU") on Feb. 3, aiming to establish a joint venture company for the development, manufacture and sales of motors for electric vehicles. The two companies now will conduct formal discussions regarding the establishment of the new company.