Mitsubishi Considers Joining Honda-Nissan EV Alliance
Mitsubishi Motors Corp. is exploring the possibility of joining the planned electric vehicle (EV) alliance between Honda Motor Co. and Nissan Motor Co. This move, if realized, would create a formidable three-company alliance in Japan, challenging the dominance of the Toyota-led bloc.
Mitsubishi already collaborates with Nissan, which holds a 34% stake in the company, on developing and manufacturing "kei" vehicles – small, low-powered, and low-taxed domestic vehicles. Joining the Honda-Nissan alliance would further optimize Mitsubishi's EV manufacturing costs and potentially expand its collaboration with Honda in the domestic minivehicle market.
This partnership is crucial for Mitsubishi's survival as it seeks to restructure its business following its withdrawal from the Chinese market. Honda and Nissan announced their strategic partnership in March, aiming to collaborate on core components and vehicle software development.
With Tesla and China's BYD Co. leading the EV race, automakers worldwide are forging partnerships and alliances to stay ahead in autonomous driving and other new technologies. The combined global sales of Honda, Nissan, and Mitsubishi exceeded 8 million units in 2023, compared to Toyota's global sales surpassing 10 million units.
The emergence of a new three-company alliance would solidify a two-camp division among Japanese automakers, with Mitsubishi playing a key role in challenging Toyota's dominance.