Beijing (ZXZC)- China’s automobile design enterprise, IAT Automobile Technology Co., Ltd. (IAT), inked a contract with Japanese automaker, Honda Motor, licensed to use the latter's technology in relating vehicle model development, IAT announced on March 15th.

Photo credit: Honda

According to the contract, Honda granted IAT the right to utilize any patented technology, vehicle model data, and drawings encountered during new vehicle model's development phase. 

IAT will conduct R&D based on Honda’s authorized technologies and has the right to appoint partners for manufacturing and sales. Honda will take a cut from the net income generated by selling said vehicle models.  

Additionally, any revised or improved technology created by IAT during amelioration on Honda’s existing technologies should belong to IAT. 

In fact, Honda Motor has been a long-time partner with IAT, and the deepened cooperation signifies the global competitiveness of IAT. Honda Motor will also benefit from the relationship, as the partnership helps promote the commercial value of its technologies in the Chinese and global markets.

IAT has been actively enhancing its global visibility in the past few years. In 2021, IAT formed a strategic partnership with another Japanese conglomerate, Itochu Corporation, for new energy vehicle R&D and auto part exports.