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Japanese auto giants Nissan and Honda said Friday they had agreed to explore a strategic partnership in electric vehicles and other areas.

In a joint statement, the companies highlighted the necessity of bolstering environmental and electrification technologies, alongside software development, to propel endeavors towards carbon neutrality and the eradication of traffic accidents.

Expressing a shared vision, the statement emphasized the imperative of leveraging each other's strengths and exploring potential avenues for collaboration.

The feasibility study's ambit encompasses automotive software platforms, crucial EV components, and supplementary products, as outlined by both entities.

Nissan's CEO, Makoto Uchida, highlighted the significance of this agreement in light of the industry's imminent mobility transformation, citing common challenges faced by both Nissan and Honda.

Honda's director, Toshihiro Mibe, characterized the current automotive landscape as undergoing a "once-in-a-century transformation." He outlined the study's criteria, focusing on evaluating how the amalgamation of their technologies and expertise could position them as industry frontrunners, thereby generating fresh value for the automotive sector.