We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Nissan (NSANY) & Honda (HMC) Plan to Co-Develop EV Software
Read MoreHide Full Article
Nissan Motor Co., Ltd. (NSANY - Free Report) and Honda Motor Co., Ltd. (HMC - Free Report) are contemplating a partnership to develop EV software and build charging networks.
Their goal is to share costs and accelerate the development of new technology and infrastructure, aiming to catch up with global competitors in the transition to zero-emission and software-defined vehicles. These companies are currently finalizing details of agreements for the joint development of a shared operating system and other software.
Neither Honda nor Nissan has commented on these recent reports. However, per Nissan, both companies are exploring various collaborations and will make an announcement at the appropriate time.
Reportedly, in March, the two automakers began early-stage discussions to jointly procure and share major BEV components in Japan to reduce costs and compete in the rapidly evolving global BEV market.
Facing increasing competition from global EV leaders like Tesla and new players from China and South Korea, Nissan and Honda's partnership aims to reduce production costs and streamline operations, making their EVs attractive to price-sensitive consumers.
This collaboration reflects a broader trend of traditional automakers teaming up to thrive in the EV era. Pooling resources to standardize software and enhance EV infrastructure will not only help Nissan and Honda cut costs but will also expedite global EV adoption.
In the first five months of 2024, Nissan sold slightly more than 50,000 EVs globally, representing 3.5% of its total worldwide sales of 1.4 million vehicles.
During the first three months of 2024, Honda sold 3,190 EVs, constituting 0.3% of its nearly one million global retail sales.
Zacks Rank
While NSANY has a Zacks Rank #4 (Sell), HMC carries a Zacks Rank #2 (Buy) at present.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for AXL’s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 5 cents in the past 60 days. The EPS estimates for 2025 have moved up 20 cents in the past 30 days.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Nissan (NSANY) & Honda (HMC) Plan to Co-Develop EV Software
Nissan Motor Co., Ltd. (NSANY - Free Report) and Honda Motor Co., Ltd. (HMC - Free Report) are contemplating a partnership to develop EV software and build charging networks.
Their goal is to share costs and accelerate the development of new technology and infrastructure, aiming to catch up with global competitors in the transition to zero-emission and software-defined vehicles. These companies are currently finalizing details of agreements for the joint development of a shared operating system and other software.
Neither Honda nor Nissan has commented on these recent reports. However, per Nissan, both companies are exploring various collaborations and will make an announcement at the appropriate time.
Reportedly, in March, the two automakers began early-stage discussions to jointly procure and share major BEV components in Japan to reduce costs and compete in the rapidly evolving global BEV market.
Facing increasing competition from global EV leaders like Tesla and new players from China and South Korea, Nissan and Honda's partnership aims to reduce production costs and streamline operations, making their EVs attractive to price-sensitive consumers.
This collaboration reflects a broader trend of traditional automakers teaming up to thrive in the EV era. Pooling resources to standardize software and enhance EV infrastructure will not only help Nissan and Honda cut costs but will also expedite global EV adoption.
In the first five months of 2024, Nissan sold slightly more than 50,000 EVs globally, representing 3.5% of its total worldwide sales of 1.4 million vehicles.
During the first three months of 2024, Honda sold 3,190 EVs, constituting 0.3% of its nearly one million global retail sales.
Zacks Rank
While NSANY has a Zacks Rank #4 (Sell), HMC carries a Zacks Rank #2 (Buy) at present.
Key Picks
Some top-ranked stocks in the auto space are Blue Bird Corporation (BLBD - Free Report) and American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The consensus estimate for BLBD’s 2024 sales and earnings suggests year-over-year growth of 17.29% and 155.14%, respectively. The EPS estimates for 2024 and 2025 have improved 63 cents and 69 cents, respectively, in the past 60 days.
The Zacks Consensus Estimate for AXL’s 2024 sales and earnings suggests year-over-year growth of 3.05% and 544.44%, respectively. The EPS estimates for 2024 have moved up 5 cents in the past 60 days. The EPS estimates for 2025 have moved up 20 cents in the past 30 days.