TOKYO (Reuters) – Japan’s Honda Motor Co on Wednesday unveiled it struck a strategic collaboration agreement with Taiwan Semiconductor Manufacturing Co (TSMC) as part of steps the company was taking to secure a stable supply of semiconductors.
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 where he laid out the automaker’s business strategy.
“Honda will work closely together with Tier 1 suppliers and semiconductor makers and move forward with drastic steps,” Mibe said, adding it had reached a basic agreement on strategic collaboration with TSMC.
The company expects to start seeing an impact from the tie-up with TSMC from the 2025 financial year, chief operating officer Shinji Aoyama said.
Honda also said it planned to introduce four new electric vehicle (EV) models in Japan by 2026.
(Reporting by Daniel Leussink and Satoshi Sugiyama; Editing by Muralikumar Anantharaman)
