Honda Motor Co. has formed a research and development joint venture for connected vehicles together with a Chinese firm 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. had established Hynex Mobility Service Co. in Dalian. The new business 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 onboard 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 said.
Hynex Mobility, capitalized at 300 million yuan (¥4.5 billion), is 51 percent owned by the Honda subsidiary with the remaining 49 percent by the Chinese partner, Honda said in a statement.