Nissan, Honda say to explore partnership in electric vehicles

"To further accelerate efforts toward carbon neutrality and zero traffic-accident fatalities, it will be essential to strengthen environmental and electrification technologies as well as software development," a joint statement said.

"The two companies have reached the understanding based on the belief that it is necessary to combine their strengths and explore the possibility of future collaboration," it added.

The scope of the feasibility study includes automotive software platforms, core components related to EVs, and complementary products, they said.

"It is important to prepare for the increasing pace of transformation in mobility in the mid-to-long-term, and it is significant that we have reached this agreement based on a mutual understanding that Honda and Nissan face common challenges," Nissan chief executive Makoto Uchida said.

Honda director Toshihiro Mibe said that there was a "once-in-a-century transformation in the automotive industry".

"Our study criteria will be whether the synergy of the technologies and knowledge that our companies have cultivated will enable us to become industry leaders by creating new value for the automotive industry," he said.