Honda forms connected car R&D venture with China's Neusoft Reach
TOKYO, NNA - Honda Motor Co. has formed a research and development joint venture with a Chinese firm for connected vehicles in a bid to accelerate future mobility services in the world's largest automotive market.
Honda said Wednesday its wholly owned subsidiary, Honda Motor (China) Investment Co., and Neusoft Reach Automotive Technology (Shanghai) Co. has established Hynex Mobility Service Co. in Dalian. It will start operations on July 1.
Neusoft Reach is an automotive unit of Neusoft Corp., a major Chinese information technology firm.
The Japanese automaker aims to advance Honda CONNECT, its on-board connected system, to customize it for individual drivers through the use of artificial intelligence technology and big data analysis in the Chinese market, a Honda spokesman in Tokyo told NNA.
Hynex Mobility, capitalized at 300 million yuan ($42 million), is 51 percent owned by the Honda subsidiary with the remaining 49 percent by the Chinese partner, Honda said in a statement.
The two groups have collaborated in electric vehicles and car sharing services. In 2017, Honda invested in Reachstar New Energy Automotive Technology (Beijing) Co., a car sharing service subsidiary of Neusoft Reach. (NNA/Kyodo)