Honda enters talks with Alphabet's Waymo on self-driving technology

Honda Motor's R&D unit said on Wednesday it has entered into formal talks with Alphabet's Waymo to add self-driving technology to its vehicles.

Honda will initially provide vehicles modified to accommodate Waymo's self-driving technology which would join Waymo's existing fleet being tested across four cities in the United States.

A spokesperson for Waymo told CNBC, "We're looking forward to exploring opportunities to collaborate with Honda to advance fully self-driving technology and make our roads safer."

Alphabet's Google self-driving car project recently recast itself as Waymo to monetize the company's valuable research amid fierce competition from a score of rivals all vying to be the first to launch production-ready self-driving cars.

— CNBC.com contributed to this report.