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Nissan Motor Co. and Mitsubishi Corp. have decided to establish a joint venture by the end of fiscal 2024 to provide services involving self-driving cars and electric vehicles, it has been learned.
The two companies aim to provide a service to transport passengers using Level 4 autonomous driving technology — in which the vehicle under certain conditions does not require a human to be involved in driving — and electric vehicle batteries for at-home energy storage, among other services.
The joint venture will be funded equally by the automaker and the trading company. Verification tests will begin in 2025.
Regarding autonomous driving, Nissan is currently developing the vehicles, while Mitsubishi is working to commercialize a system utilizing artificial intelligence that can figure out optimal routes. Based on the results of the developments, the joint venture will operate unmanned taxis and other services in accordance with the government’s deregulation measures. The services will first be introduced in Yokohama, Kanagawa Prefecture, and Namie, Fukushima Prefecture. Nissan is conducting demonstration experiments on automated driving and other technologies in both locations.
In terms of EV batteries, the two companies are looking into a service that would connect EVs to homes and power grids, allowing people to use the electricity stored in their cars at home or sell it to power companies. They are also eyeing a project that promotes the collection of used EV batteries for secondary use and recycling, as a problem has emerged in which many used EV batteries end up overseas.
Nissan plans to increase sales figures for businesses related to autonomous driving and EVs to ¥2.5 trillion by fiscal 2030, but the automaker had faced difficulties in conceptualizing businesses that would utilize the vehicles themselves.
Mitsubishi is expediting its moves to invest in start-ups and other companies that develop software in autonomous driving, anticipating future expansion in the market for autonomous driving against the backdrop of the declining birthrate, aging population and shortage of labor. The company is also working with major automakers in the field of EV batteries.
