Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation have signed a memorandum of understanding (MOU) to explore the possibility of Mitsubishi Motors joining discussions on a proposed business integration between Nissan and Honda.
The agreement follows a prior MOU signed by Nissan and Honda on August 1, which outlined plans to establish a joint holding company to advance strategic initiatives in intelligence and electrification. Mitsubishi Motors has participated in preliminary discussions under this framework and is expected to decide on its level of involvement by the end of January 2025.
The three companies aim to identify potential synergies through increased collaboration, addressing rapid changes in the automotive industry. If Mitsubishi Motors joins the integration discussions, the companies will consider how best to align their operations to achieve mutual benefits.
Nissan’s CEO Makoto Uchida stated that Mitsubishi Motors’ involvement in the discussions could expand the scope of collaboration. Similarly, Honda’s CEO Toshihiro Mibe emphasized the importance of adapting to industry changes and exploring new opportunities for value creation.
Mitsubishi Motors’ CEO Takao Kato highlighted that the collaboration could maximize synergies and leverage the strengths of each company.
The discussions represent a response to the evolving landscape of the global automotive industry, including increasing emphasis on electrification and mobility solutions. Further updates are expected following Mitsubishi Motors’ decision on participation early next year.