Nissan, Honda explore partnership in electric vehicles

Tokyo, Japan: Japanese arch rivals Nissan and Honda said Friday they were exploring a strategic partnership in electric vehicles to face up to a once...

Tokyo, Japan: Japanese arch-rivals Nissan and Honda said Friday they were exploring a strategic partnership in electric vehicles to face up to a "once-in-a-century" upheaval in the car industry.

Analysts said the move was aimed at catching up with Chinese competitors who have stolen a march in EVs while Japanese firms have lost ground by focusing more on hybrid vehicles.

"We are not competing only with the traditional car makers, but also with new players... with innovative products and new business models" as well as "overwhelming price competitiveness and amazing speed," said Nissan CEO Makoto Uchida.

"We cannot win the competition as long as we stick to conventional wisdom and traditional approach," he told a joint news conference announcing a feasibility study of the partnership.

The scope includes automotive software platforms, core components related to EVs, and complementary products, the companies said.