Mitsubishi Motors is reportedly set to join the Honda-Nissan alliance, which was formed in March 2024 when both automakers announced a comprehensive cooperation agreement to explore joint development in the fields of vehicle electrification and intelligence.
According to Nikkei Asia, Mitsubishi Motors, in which Nissan owns a 34.01% stake, has signed a nondisclosure agreement with Honda and Nissan and has begun discussions to join the framework of the alliance. The three companies will work together to enhance their competitiveness to survive in the highly competitive market.
The three companies plan to develop a standardized software platform for their vehicles, with Honda and Nissan collaborating on the creation of the base software. The goal is to potentially integrate this software into Mitsubishi’s vehicle lineup as well. The collaboration also aims to accelerate the development and deployment of advanced in-vehicle software, balancing cost-efficiency with technological innovation. By sharing resources and expertise, the partners seek to optimize investments and focus on core electrification initiatives.
Honda and Mitsubishi Motors are exploring potential collaborations to expand their respective product offerings. Given Honda’s absence in the plug-in hybrid and pickup truck segments in Japan, the companies will discuss the possibility of Mitsubishi supplying these vehicle types. Additionally, future collaborations in the mini-vehicle segment are being considered.
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Honda and Nissan rank as the second and third largest automakers in Japan respectively, with global sales totaling 4.1 million and 3.44 million units in the fiscal year ending March 2024. When combined with Mitsubishi’s 810,000 units, the group’s total sales reach 8.35 million vehicles. Meanwhile, Toyota has formed a tie-up with Daihatsu, Suzuki, Subaru, Mazda, and Hino Motors, bringing the five automakers’ combined sales volume to 16 million units.
The global electric vehicle (EV) market experienced significant growth in 2023, with Tesla and BYD leading the charge. These two companies combined sold over 3.3 million units, dwarfing the sales figures of other major automakers. Japanese manufacturers, including Nissan and Honda, faced challenges in this rapidly evolving landscape, with respective sales of 140,000 and 19,000 EVs worldwide.
