Honda Motor Co., Ltd. - Agreement to build new autonomous vehicle with Cruise and General Motors

Leading Japanese law firm Nishimura & Asahi has advised Honda Motor Co., Ltd. (“Honda”) [TSE: 7267 and NYSE: HMC] on its agreement with General Motors [NYSE: GM] and GM Cruise LLC (“Cruise”) to pursue the shared goal of transforming mobility though the large-scale deployment of autonomous vehicle technology.

Honda will work jointly with Cruise and General Motors to fund and develop an autonomous vehicle that can be manufactured at high volume for global deployment. Under the agreement, Honda will contribute approximately USD2 billion over 12 years to this initiative, which, together with a USD750 million equity investment in Cruise, brings its total commitment to the project to USD2.75 billion.

The Nishimura & Asahi team advising Honda was led by partner Yuki Oi and counsel Toshihito Yasaki.