Honda wants to handle its business alone, not looking for consolidation
In a world where alliances are becoming more common, Honda prefers to stand alone.
Automotive News reports Honda CEO Takahiro Hachigo as saying the industry's craze for consolidation won't trigger any knee-jerk reactions from Honda. Hachigo’s comments come after recent reports that Toyota and Suzuki are considering an alliance. Other alliances exist in the auto industry as well.
One of the reasons companies pursue these partnerships is to share the cost of developing new technologies. The Wall Street Journal reported in October 2015, not long after Hachigo became CEO, he was open to pursing tech tie-ups, but not business ones. He’s apparently holding on to that position by telling Automotive News, "When it comes to technologies that are win-win, we want to pursue those alliances. But when it comes to business, there are things we want to do on our own, we just want to be able to do what we want to do." In fact, Honda has been working with General Motors on a new fuel cell system and hydrogen storage technologies for more than 3 years.
They hope to see results of their collaboration by 2020.