Nissan and Honda Team Up to Accelerate Electric Vehicle Development

• Nissan and Honda announced an agreement to collaborate on developing electric vehicles and auto intelligence technology • The partnership aims to help the automakers catch up in EV development, where they have fallen behind companies like Tesla and BYD • The agreement currently focuses on co-developing core technologies, while keeping their individual products distinct • Nissan and Honda cited the urgency of keeping pace with rivals as a reason for partnering up • The deal involves no equity swaps yet, but the automakers may consider that option later