Mitsubishi Motors to join Honda-Nissan alliance

Japan’s Mitsubishi Motors is reportedly joining an alliance with Honda and Nissan to create a combined auto group with over 8 million vehicle sales. The partnership aims to standardise in-vehicle software.

Mitsubishi, 34 per cent owned by Nissan, will collaborate with Honda and Nissan to finalise details. Mitsubishi declined to comment, and Nissan and Honda officials were unavailable for immediate comment.

Nissan, Japan’s third-largest automaker, is facing market share losses in the United States and China, its two biggest markets. These two markets make up half of its global sales.

Collaboration among Japan’s automakers can enhance cost efficiency and competitiveness in the electric vehicle (EV) market, currently dominated by companies like China’s BYD and Tesla.

In March, Nissan and Honda announced plans to form a strategic partnership to produce EV components. They aim to strengthen their presence in the growing global market for EVs.

Attribution: Reuters