Honda (TYO:7267) said its partnership with Nissan (TYO:7201) is progressing substantially, with President Toshihiro Mibe telling shareholders on Friday that some elements of the collaboration will be unveiled soon, Nikkei Asia reported on Monday.

The two automakers, along with Mitsubishi Motors (TYO:7211), are in final-stage talks to standardize electronic control units for their upcoming vehicles, autonomous driving, and in-car information systems, the news daily said.

Mibe told investors that all projects are being pursued on mutually beneficial terms, even as Honda faces tough questions over its first-ever net loss and significant cuts to its EV strategy at the annual general meeting in Tokyo, according to the report.

Nissan didn't immediately respond to MT Newswire's request for comment.

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