Mitsubishi May Join Honda-Nissan Camp on EVs 

Jiji Press

10:14 JST, July 29, 2024

TOKYO (Jiji Press) — Mitsubishi Motors Corp. is considering joining the camp of Honda Motor Co. and Nissan Motor Co., which are planning to cooperate in fields including electric vehicles, it was learned Sunday. 

The move would divide major Japanese automakers into two groups—one centering around Toyota Motor Corp. and the other comprising Honda, Nissan and Mitsubishi. 

As the business environment surrounding the industry is rapidly changing partly because of the spread of EVs, moves among automakers to seek collaboration for survival are accelerating. 

Honda and Nissan are considering sharing software and key parts for EVs. They are expected to announce specifics of their partnership as early as this summer, and Mitsubishi may join the move, according to informed sources. 

Mitsubishi may seek to team up with Honda and Nissan, leveraging its strengths in plug-in hybrid vehicles and pickup trucks, the sources said. 

Nissan owns an equity stake of about 34% in Mitsubishi. 

Meanwhile, Honda and Nissan, at a press conference in March to announce their plan to consider collaboration on EVs, said that a capital tie-up is not an option. 

In fiscal 2023, which ended in March this year, Honda sold 4.07 million vehicles globally, Nissan 3.44 million vehicles and Mitsubishi 810,000 vehicles, with the three companies’ combined vehicle sales totaling 8.33 million units. 

Sales at Toyota stood at 10.3 million units. Combined sales at Toyota, three automakers with capital relations with the leading Japanese automaker—Mazda Motor Corp., Suzuki Motor Corp. and Subaru Corp.—and Daihatsu Motor Co., a Toyota unit, came to 16.63 million units in fiscal 2023.