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Honda and Neusoft Reach to Speed Up Cooperation in EV Technologies and Expand the Partnership to Car Sharing Business

Dec. 12, 2017 – Honda Motor (China) Investment Co., Ltd. ("Honda China") and Neusoft Reach Automotive Technology (Shanghai) Co., Ltd. ("Neusoft Reach") under Neusoft Corporation ("Neusoft", SSE: 600718) announced to expand their strategic cooperation to the car sharing market. In addition to the previously started cooperation in core technologies of electric vehicles, Honda China will invest in Reachstar New Energy Automotive Technology (Beijing) Co., Ltd. ("Reachstar"), a car sharing service company under Neusoft Reach, and the two sides will work together to carry out car sharing business.



Mr. Yasuhide Mizun, Chief Officer for Regional Operations of Honda China, and Mr. Wang Yongfeng, President of Neusoft Corporation and Chairman of Neusoft Reach


According to the agreement, Neusoft Reach will hold 90% of the equities and Honda China will hold 10% of Reachstar.


Neusoft Reach is an innovation-driven hi-tech company specializing in electric vehicles, intelligent connectivity, automated driving and car sharing services, providing platforms and core technologies for the next generation of vehicles.


Honda has a diversified range of mobility products including automobiles and motorcycles, and Honda cars equipped with FUNTEC core technologies are very popular among Chinese customers. This year, Honda released the"2030 Vision" for the global market, and Honda China launched the FUNTEC upgrade campaign in order to realize the"2030 Vision." While enhancing the existing advantages of "product innovation", Honda China is also committed to strengthening "experience innovation".


Honda will cooperate with Neusoft Reach in car sharing business for innovation in mobility mode and service upgrading in order to strengthen "experience innovation".


"Honda owns a variety of mobility products including automobiles and motorcycles. By utilizing Honda's mobility products with advanced sharing services and convenient and well-equipped sharing stations, Honda can create a unique service model to enable seamless mobility that can take customers from where they are to popular destinations such as airports, train stations, urban districts and tourist destinations, and enjoy the fun of mobility brought by Honda", according to Yasuhide Mizuno, Chief Officer for Regional Operations of Honda China.



Mr. Yasuhide Mizun, Chief Officer for Regional Operations of Honda China


Mr. Wang Yongfeng, President of Neusoft Corporation and Chairman of Neusoft Reach said: "In the vision of building an intelligent mobility society, we have a common dream with Honda, and car sharing service is one of the effective means to realize the dream. Currently, Neusoft Reach is building a world-leading mobility service platform. In the future, Neusoft will give full play to its advantages in the areas of IT, big data and artificial intelligence to build a brand-new world of intelligent mobility jointly with Honda."



Mr. Wang Yongfeng, President of Neusoft Corporation and Chairman of Neusoft Reach


Electrification, IT, and connectivity technologies in China are being adopted at a rapid rate and are quickly reaching the top level of the world. At the same time, China's automotive industry is also undergoing rapid transformation. The cooperation between Honda and Neusoft Reach in EV technologies and car sharing business will create new value to mobility services and improve the experience for customers in the China market.


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