Mumbai, Dec. 17 -- Honda Motor Co., and Hitachi have signed an agreement for Hitachi to transfer a portion of its common shares in automotive component supplier Astemo to Honda.

The transaction shifts the voting rights of the joint venture. Previously held at a 40-40 percent split between Honda and Hitachi, with 20 percent held by JICC-01, the new structure grants Honda a 61 percent majority stake. Hitachi's share will decrease to 19 percent, while JICC-01 maintains its 20 percent holding.

The capital restructure aims to position Astemo as a provider of integrated vehicle systems for the Software Defined Vehicle (SDV) era. The company intends to integrate software and hardware across in-car domains and cloud engineering.

Under the new ...