Another automaker is keying in on China's electric vehicle market.
Hitachi's (HTHIY) Hitachi Automotive Electric Motor Systems, a joint venture of Hitachi Automotive Systems and Honda Motor (HMC) , will bring electrified motors for electric vehicles in China as soon as 2020.
Hitachi has designated a facility in the Guangdong Province where the development and production of these electric motors will be built, according to the Nikkei Asian Review.
The company is aiming to take advantage of the Chinese government's efforts to promote the production of eco-friendly cars.
Mass production could reportedly begin April 2020.
Shares of Hitachi were sinking lower in afternoon trading on Monday.
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