Earlier this year, Honda and Nissan signed an agreement to explore a partnership. This potential collaboration between two major Japanese automakers is-
expected to focus on electric vehicles (EVs) and automotive software platforms. Now, Mitsubishi—34% owned by Nissan—looks set to join the deal, according to Nikkei Asia.
Mitsubishi is reportedly in discussions with Honda and Nissan after signing a nondisclosure agreement. The goal? To help these automakers catch up with industry leaders like Tesla-
and Chinese companies BYD and Geely, who have already invested heavily in EV research, development, and scaling up their supply chains.
Back in March, Honda and Nissan emphasized the need to combine their strengths. They stated that accelerating electrification requires significant investment and achieving scale.
Honda's CEO, Toshihiro Mibe, even suggested 2030 as a target year for Honda to become a "top runner" in the EV space.
A key focus of this agreement, according to Nikkei Asia, will be to standardize in-vehicle software across the brands.
Honda and Nissan will develop the underlying software, which will also be used in Mitsubishi vehicles.
The alliance could lead to new models for all three brands, leveraging each other's strengths to fill gaps in their lineups. For example, Mitsubishi sells plug-in hybrids and-
pickup trucks in Japan—two areas where Honda doesn't compete. Mitsubishi might supply vehicles for Honda, and-
both companies could collaborate on city cars, particularly in Japan's kei car segment.
With Mitsubishi joining the partnership, the combined global sales for Honda, Nissan, and Mitsubishi would exceed 8 million units.
This includes 4.1 million from Honda, 3.4 million from Nissan, and approximately 800,000 from Mitsubishi for the fiscal year ending in March 2024.
If all goes as planned, Japan's domestic market could soon be dominated by two major conglomerates. On one side, the Honda-Nissan-
Mitsubishi alliance; on the other, Toyota, which has ties to Subaru, Mazda, Suzuki, Daihatsu, and Hino Motors.
Altogether, the Toyota-led group boasts a combined sales volume of 16 million units.