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According to Reuters, citing Nikkei Asia, Mitsubishi is set to join forces with Honda and Nissan, forming a powerful alliance of automakers with a global sales volume of over eight million vehicles.
Per Nikkei Asia, Mitsubishi will collaborate with Honda and Nissan to standardize software for their vehicles. Nissan currently holds approximately 34% ownership in Mitsubishi Motors.
Mitsubishi declined to comment on the matter, while Nissan stated that the information was not based on any official announcement. A Honda spokesperson also declined to comment, according to Reuters.
News of the potential alliance with Honda and Mitsubishi comes as Nissan struggles to maintain its market share in the world’s two largest auto markets: the US and China. Per Reuters, sales in these two countries account for about half of Nissan’s global sales as of March.
Last week, Nissan also revised its revenue expectations for 2024 after price cuts in the US nearly wiped out its first-quarter profits.
In March, both Nissan and Honda confirmed they were considering a strategic partnership to collaborate on electric vehicle components and develop artificial intelligence for automotive software platforms.
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Nissan, Mitsubishi, and Honda will work together to develop software for their vehicles. Illustration: Nissan. |
Mitsubishi is already part of a long-standing alliance with Nissan and Renault. Last year, the three automakers agreed to restructure their partnership, aiming for a more streamlined, pragmatic, and straightforward relationship.
Reuters suggests that the collaboration between Nissan, Honda, and Mitsubishi could help Japanese automakers cut costs and strengthen their position in the increasingly competitive electric vehicle market, where they face challenges from BYD and Tesla.
In the Chinese market, Japanese car brands, which used to dominate, now compete with local automakers. Per Reuters, Chinese car manufacturers are ramping up production and gaining market share with affordable, tech-packed models.
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