Tokyo, Dec. 17 (Jiji Press)–Honda Motor Co. said Tuesday that it will raise its stake in Japanese auto parts maker Astemo Ltd. from 40 pct to 61 pct as part of efforts to accelerate the development of software defined vehicles and self-driving technology. The Japanese automaker will acquire 21 pct of the 40 pct stake that Hitachi Ltd. has in Astemo for 152.3 billion yen in the second quarter of 2026. Astemo said in a statement that it aims to be a leading company that drives electrification and artificial intelligence-driven intelligence of mobility in the SDV age. Honda is considering taking Astemo public through an initial public offering. Astemo was founded in January 2021 through a merger of Hitachi Automotive Systems Ltd., Showa Corp., Keihin Corp. and Nisshin Kogyo Co. Currently, Honda and Hitachi each hold 40 pct of Astemo while investment firm JIC Capital Ltd. owns the remaining 20 pct. END [Copyright The Jiji Press, Ltd.]
Honda to Raise Stake in Astemo to 61 Pct
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