Automobile manufacturer Nissan Motor is considering to seek a business partnership with peer Honda Motor on key components for electric vehicles to cut production costs, reported Reuters News Agency based on sources from Nissan on Friday.
The details of the partnership are not disclosed as the discussions are in the stage of conception.
The partnership is expected to boost the companies’ expansion into strengthening their base in manufacturing electric vehicles.
The Chinese car maker BYD has been outperforming in sales, with a surge of almost 62% to over 3 million vehicles in 2023, compared to a year ago, establishing its global dominance in the EV sector.
Nissan is considering partnering with Honda on key EV parts, as well as ‘kei car’ – boxy vehicles that are smaller and less powerful than regular cars, primarily made for the domestic market, added the news report.
In September 2023, Nissan jumped to an all-electric line-up in Europe, as the company’s one of the early initiatives to widen its EV presence. The company said it is pressing ahead with plans to achieve 100% EV in Europe by 2030, with all new Nissan models from now to be all-electric in Europe.
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