Well, that was fast. Yesterday we wrote about the possibility of Nissan and Honda teaming up in one way or another to develop electric vehicle tech together, and now the two companies have confirmed what was initially reported by Nikkei Asia.

The Japanese automakers signed a memorandum of understanding for a feasibility study of a strategic partnership in the fields of vehicle electrification and intelligence, a joint press release published today shows.

In other words, the two companies won’t start working together on a brand-new EV just yet, but if they find common ground during this feasibility study, they’ll collaborate on software development, core components related to EVs (like batteries), and complementary products, the release said.

Yesterday’s report from Nikkei Asia mentioned that Nissan was weighing a partnership with Honda to jointly develop a new electric axle (e-axle), as well as a shared EV platform. If this happens, we might see different EVs from the two Nippon manufacturers that sit on the same architecture, much like General Motors is using its Ultium platform for all its new battery-powered vehicles.

Speaking of Ultium and GM, Honda had a deal with the American auto giant that resulted in the Honda Prologue and Acura ZDX all-electric crossovers. The partnership should have continued until at least 2027 and was supposed to give birth to at least one affordable EV, but that plan was scrapped.

Now, Honda might do with Nissan what couldn’t be done with GM. Both Japanese names have multiple new EVs in the works, including sedans and SUVs, but they’re still at least two years away from becoming reality. As it stands today, Nissan sells the Leaf and Ariya in the United States, while Honda has the GM Ultium-based Prologue and Acura ZDX at dealerships.