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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. "Producing motors is capital intensive, so rather than just manufacturing them for our own purposes, we would like to produce in large volumes with the possibility of supplying a variety of customers," Honda Chief Executive Officer Takahiro Hachigo told reporters at a news briefing on Tuesday. 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.
Honda Motor Co. plans to set up a joint venture with Hitachi Automotive Systems Ltd. to develop, produce and sell motors for electric vehicles, citing the expected increase in demand for electric autos ...
U.S. private equity firm KKR & Co LP said on Friday it has agreed to buy Hitachi Ltd's power tools unit, Hitachi Koki Co Ltd, for about $1.3 billion, its second billion-dollar deal in Japan in three months. ...
Cleaning up the Fukushima nuclear plant -- a task predicted to cost 86 times the amount earmarked for decommissioning Japan’s first commercial reactor -- is the mother of all salvage jobs. Still, foreign ...