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Nissan Motor Co, Honda Motor Co, and Mitsubishi Motors have signed a memorandum of understanding (MOU) to explore Mitsubishi Motors’ potential participation in a strategic business integration outlined in a previous agreement between Nissan and Honda.
The discussions, announced on Thursday, aim to assess Mitsubishi Motors’ involvement and synergy-sharing opportunities within the framework of a joint holding company envisioned by Nissan and Honda.
The move comes as automakers face dramatic changes driven by electrification, digitalisation and shifting market dynamics.
Nissan and Honda initiated their collaboration on August 1, when they signed an MOU to consider a business integration focused on intelligence and electrification.
Mitsubishi Motors has since participated in related discussions and will decide by January 2025 whether to formally join the integration.
Nissan, Honda and Mitsubishi leaders share vision
Nissan CEO Makoto Uchida highlighted the significance of Mitsubishi Motors’ involvement. “Honda and Nissan have begun considering a business integration and will study the creation of significant synergies between the two companies in a wide range of fields. It is significant that Nissan’s partner, Mitsubishi Motors, is also involved in these discussions. We anticipate that if this integration comes to fruition, we will be able to deliver even greater value to a wider customer base,” Uchida said in a statement.
Honda CEO Toshihiro Mibe echoed the sentiment, emphasising the transformative period for the automotive industry.
“At this time of change in the automobile industry, which is said to occur once every 100 years, we hope that Mitsubishi Motors’ participation in the business integration discussions of Nissan and Honda will lead to further social change. We aim to become a leading company in creating new value in mobility through business integration,” Mibe said.
Mitsubishi Motors CEO Takao Kato underscored the potential benefits of collaboration. “The study between Nissan and Honda about a business integration will accelerate synergy maximisation effects, bringing high value also to the collaborative businesses with Mitsubishi Motors.”
“To realise synergies and to make the best use of each company’s strengths, we will also study the best form of cooperation,” Kato added.
The three companies’ talks represent a significant step in their pursuit of competitiveness in an evolving global automotive landscape, as they aim to leverage their collective expertise to enhance their market presence and deliver innovative mobility solutions.
