Honda establishes connected mobility company together with Chinese Neusoft Corp.
Honda Motor has entered into a joint research and development venture with Neusoft to provide connected mobility services to the Chinese market. For years, the automotive market in China has been considered the world’s largest sales market and all renowned vehicle manufacturers are trying to make their mark there.
Honda announced at the beginning of June that Honda Motor (China) Investment and Neusoft Reach Automotive Technology (Shanghai) have founded the joint venture Hynex Mobility Service Co. based in Dalian, China. The new company will start operations on July 1, 2020. Neusoft Reach is the automotive division of Neusoft Corp, a leading Chinese IT company.
The Japanese car manufacturer plans to improve its existing Honda CONNECT assistance system by using artificial intelligence and Neusoft’s data analysis for the Chinese market, according to a Honda spokesperson in Tokyo. Hynex Mobility has an enterprise value of 300 million yuan (equivalent to 37.8 million euros). Honda holds 49 percent of the company shares, the rest is owned by its Chinese partner, Honda said in a press release.
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