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Honda-Nissan-Mitsubishi Alliance for EV Tech

Jawad  30 Jul 2024   309
Honda-Nissan-Mitsubishi Alliance for EV Tech

Honda-Nissan-Mitsubishi Alliance for EV Tech

The automobile industry is highly competitive, especially with Chinese manufacturers leading the The automobile industry is highly competitive, especially with Chinese manufacturers leading the electric vehicle (EV) market. To enhance their competitiveness and innovation, major Japanese automakers are exploring strategic partnerships. Mitsubishi Motors is reportedly in discussions to join the existing cooperation between Honda and Nissan.

Focus on EV Technologies
This proposed partnership aims to pool resources and expertise, particularly in EV technologies and automotive software platforms. The collaboration between Honda and Nissan, which began in March 2024, focuses on accelerating electrification and reducing costs. By sharing research and development resources and standardizing software architecture, these companies hope to better compete with global giants like Tesla and rising Chinese firms such as BYD and Geely.

Mitsubishi's Involvement
Mitsubishi, already part of the Renault-Nissan-Mitsubishi Alliance, has signed a nondisclosure agreement to facilitate discussions with Honda and Nissan. Given Nissan's 34% stake in Mitsubishi, this collaboration is a logical step. The companies aim to strengthen their positions in the plug-in hybrid vehicle (PHEV) market and Japan's kei car segment, where Mitsubishi has a strong presence.

Combined Market Share
The potential alliance among Honda, Nissan, and Mitsubishi could result in a significant market share, with a combined sales volume of around 8.35 million vehicles annually. This would place them closer to the large Japanese automobile conglomerate led by Toyota, which includes SubaruMazdaSuzukiDaihatsu, and Hino Motors, collectively selling approximately 16 million units per year.

Future Collaboration Focus
While the details of the partnership are still being finalized, industry experts suggest that software development will be a key area of focus. The partners plan to leverage each other's strengths Mitsubishi's expertise in PHEV technology and Honda and Nissan's experience with EVs and software—to enhance their market offerings.

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