On the Version 4.9 livestream held on May 20, miHoYo revealed Honkai Impact 3rd will receive a collab crossover event with Genshin Impact, with Genshin characters and skins appearing in the game.

Genshin Impact Vs Honkai Impact crossover trailer (June 5, 2021 update)

miHoYo published a new trailer on Bilibili for version 4.9:

Genshin Impact x Honkai Impact crossover event release date

The Genshin Impact crossover event inside Honkai Impact 3rd will begin on June 10, 2021 on the Chinese version, in the Version 4.9 update. It's unclear for now when the event will start in the Global version, but it's likely to start one month later, on July 10, 2021. The English, Japanese, and Korean announcements by the official Honkai Impact 3rd Global accounts do not include a release date.

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Genshin Impact characters and monsters coming to Honkai

Here's a summary of all the details from the livestream (thanks, Inside Games). First, Fischl will become a playable character in Honkai, she'll be obtainable by various means, most notably by logging in throughout the event. Fischl will use bows like in Genshin Impact, adding Bow as a new weapon type.

Next, Keqing will be playable as well, but seems it'll only be during the event, and she won't be a permanent addition.

Several monsters from Genshin Impact will be added to Honkai Impact, including Elemental Slimes and Ruin Guards. Andrius, the wolf boss from Genshin, will also be added as a boss fight in Honkai Impact 3rd. We got to see gameplay of a Keqing vs Andrius fight too.

Lastly, a Klee costume / skin for Theresa will be added through the Genshin Impact event.

Keep in mind this is all for the Chinese version. It's possible the Genshin Impact crossover event will have slightly altered content when coming to Honkai Global.

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When will Genshin Impact launch its own collab with Honkai?

The worlds of Genshin Impact and Honkai are connected and are akin to parallel universes. So it's very possible in the future that an actual canon story crossover event happens.

It's also already heavily hinted in Genshin Impact that some of its characters are based on Honkai characters. Like how the Electro Archon in Genshin is likely to be based on Raiden Mei from Honkai.

Genshin Impact is out on PS4, PS5, PC, and mobile. A Nintendo Switch version is also in development, but miHoYo is reportedly struggling with it. Honkai Impact 3rd is available on PC and mobile.