Honda to form joint venture with Neusoft

Software and IT service provider Neusoft and Honda Motors are to establish a joint venture in China on car connection technology and services, with a registered capital of 300 million yuan (US$42.9 million).

The JV Hynex Mobility Service, based in Dalian, northeastern Liaoning Province, is due to begin operations on July 1. Honda Motor (China) Investment takes 51 percent stake of the joint venture and Neusoft Reach Automotive Technology (Shanghai) Co has 49 percent. 

The joint venture will realize smart mobility experiences, accelerate advances in the areas of electrification and ICVs (intelligent connected vehicles). It will also work on next-generation automobile features such as intelligent connectivity, automated driving, electrified powertrains, mobility services and cybersecurity.

In a statement, Katsushi Inoue, president of Honda Motor (China) Investment and chairman of the joint venture, said: “Honda has been ... creating value for mobility and people’s daily lives here in China. In this process, Honda and Neusoft Reach have developed a solid foundation for collaboration in various areas including research and development of electric vehicles and mobility sharing.” 

Neusoft Reach Automotive, which delivers new technologies such as AI and big data in the automotive industry, is a subsidiary of Shanghai-listed Neusoft.