Honda said on Wednesday it had struck a strategic collaboration agreement with Taiwan Semiconductor Manufacturing Co. (TSMC) as part of efforts to secure a stable supply of semiconductors.
Japanese automakers have struggled to completely shake off the hit from tight global chip and parts supply during the pandemic, though constraints have eased.
Honda will build direct relationships with chip producers for the long-term stable supply of chips, Chief Executive Toshihiro Mibe said at a news conference, at which he gave an update about the automaker's business strategy.