Honda has new alliance, but can it match Toyota on this stock metric?

TOKYO -- Honda Motor has teamed with two other automakers in a bid to create a Japanese powerhouse that can rival Toyota, a challenge that will play out in the stock market as well as the global EV race.

"Just doing the same thing is not going to give us global competitiveness," Honda President Toshihiro Mibe told reporters last Thursday. "In that sense, this cooperation among the three companies will be a strong weapon as we compete in this environment."