The announcement by the two arch rivals has been described by experts as an attempt to catch up with competitors like China's BYD.The deal gives the companies six years to work together. The firms will develop shared technologies, but their products will remain different.
But it has struggled alongside other legacy car companies in the face of increasing competition from new entrants. Nissan has existing business alliances with Renault and Mitsubishi, but these will not be affected by the arrangement with Honda.Japanese automakers such as Honda and Nissan have fallen behind rivals like Tesla and BYD in developing EVs, partly because they have historically been so successful with combustion engine vehicles.
A string of recent developments, from battery manufacturing to new engine efficiency rules, will affect the price you pay for a new car. The firm has existing business alliances with Renault and Mitsubishi, but these will not be affected by the arrangement with Honda, according to Mr Uchida."In 2030, to be in a good position, we need a decision now."
"Any tie-up like this has the potential to reduce manufacturing and development costs and engineering costs," he said. Honda wants to increase its ratio of electric vehicles and fuel cell vehicles to 100 per cent of all sales by 2040.
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