IR News: Honda and Yamaha Begin Discussion of Possible Collaboration in the Area of Small-sized Scooters in the Japanese Market
Published by IR
Date posted on October 5, 2016
Honda Motor Co., Ltd. and Yamaha Motor Co., Ltd. today announced that the two companies have begun discussions toward a possible business alliance in the Japanese market in the “Class-1 category*” which include scooters with a 50 cc engine or electric motor.
As a result of the diversification of the types of short-range transportation, including power-assisted bicycles and mini-vehicles, the market for the Class-1 category vehicles in Japan has been shrinking in recent years. Moreover, motorcycle manufacturers are facing various challenges including compliance with safety standards and emissions regulations that will become more stringent in future years, as well as the pursuit of product electrification.
Under such circumstances, Honda and Yamaha arrived at a common understanding that cooperation is necessary to address these challenges for the future and based on this understanding, the two companies will strive to realize collaboration in the Japanese market in the Class-1 category.
With these future collaborative efforts, Honda and Yamaha will strive to make people’s lives more enjoyable through Class-1 category vehicles, which are accessible and a user-friendly means of transportation for many people. Moreover, the two companies will work toward the further revitalization of the Japanese motorcycle market.
＜Comment by Shinji Aoyama/Operating Officer and Director, Honda Motor Co., Ltd.＞
“Through this collaboration with Yamaha, we will continue to offer Class-1 category products that go beyond the expectations of our customers. With that, we will devote all of our efforts to revitalize the motorcycle market in Japan and establish a market environment that enables the popularization of electric motorcycles at the earliest possible timing.”
＜Comment by Katsuaki Watanabe/Managing Executive Officer and Director, Yamaha Motor Co., Ltd.＞
“We believe that our collaborative activities, which will start with an OEM alliance, will go beyond the framework of a mere product supply alliance and carve out a future motorcycle culture in Japan.”