Mitsubishi, Nissan and Honda have announced that they have joined an existing partnership to develop electric vehicles and related technologies. The new partnership reflects the Japanese automotive giants’ efforts to increase their competitiveness in the race to bring more advanced vehicles to market. The agreement between the three companies is a step towards combining resources and reducing costs.
Nissan and Honda said in a statement that Mitsubishi’s participation will not only add new knowledge and strengths, but will also increase the synergy that the three companies can create. This brings with it the potential to offer more effective and innovative solutions in the electric vehicle market. The partnership once again demonstrates that major automotive companies are keen to pool their resources in order to reduce costs and bring new electric vehicles to market faster.
These companies, which have previously signed similar collaborations, have established different partnerships in the past. For example; Honda collaborated with General Motors to develop electric vehicles, but this partnership ended after a few years. Similarly, Honda came together with Nissan with similar goals. Nissan, on the other hand, has been collaborating with Renault as part of a global alliance with Mitsubishi for years.
Mitsubishi, Nissan and Honda partnership could be important for their market share in the US
This new partnership could be a significant step for Nissan and Mitsubishi, which have struggled in the US market in particular. Nissan has been struggling with its operating profit in the US falling by nearly 99 percent in the last quarter. The decline is due to American consumers’ lack of interest in Nissan and their inability to offer hybrid vehicles. Mitsubishi, on the other hand, has struggled to offer long-range electric vehicles, which is not uncommon in the Japanese automotive sector. The company’s plug-in hybrid Outlander model has seen some success, but it has failed to become a big hit.
In addition to these developments, Nissan and Honda’s goal of developing software-defined vehicles will also be part of the partnership. The two companies plan to conduct research on new technologies and put these vehicles into mass production within a year. They will also collaborate on issues such as batteries, electric motors and a new product inspection system. This system will be developed with the aim of achieving “mutual vehicle complementarity.”
Accelerating the pace of this process, which other automakers are already well ahead of, is one of the top priorities for the three companies. Nissan plans to electrify 16 of its 30 vehicles by 2026, seven of which will be for the North American market. The company is also making progress on its solid-state battery plans.
As a result, this partnership, strengthened by Mitsubishi’s participation, could enable the three Japanese automotive giants to take an important step towards becoming more competitive and innovative in the future. This collaboration offers new opportunities for these companies, which aim to gain a significant place in the electric vehicle market.