Mitsubishi Motors is about to join a partnership between Honda and Nissan. Together, the three companies will have combined sales of over 8 million cars.
Mitsubishi Motors, which is 34% owned by Nissan, is going to join Honda and Nissan in working out the details of a new partnership. This partnership aims to make their car software the same across all three companies.
Mitsubishi Motors has not said anything about this plan. Nissan has only mentioned that the report is not based on any official announcement from them. Honda did not reply to requests for comment.
This new partnership is happening because Nissan, which is Japan’s third-largest carmaker, has been losing market share in its two biggest markets: the United States and China. Together, these two countries make up half of Nissan’s total global sales for the year ending in March.
Nissan lowered its annual sales forecast because heavy discounts in the U.S. almost erased its profit for the first quarter.
In March, Nissan and Honda said they were thinking about working together on electric vehicle parts and using artificial intelligence in car software.
Mitsubishi Motors is already part of a long-term partnership with Nissan and Renault from France. Last year, they agreed to change this partnership to make it smaller but more flexible and effective.
Now, a new partnership between Nissan, Honda, and Mitsubishi Motors could help these Japanese car companies reduce costs and strengthen their position against strong competition in electric vehicles (EVs) from companies like China’s BYD and Tesla.
In China, which is the biggest car market in the world, Japanese car brands used to be very popular. However, they are now facing tough competition from Chinese companies that have quickly ramped up production and attracted customers with affordable cars full of advanced technology.
Toyota Corolla Altis Pricing Update For Pakistan – August 2024
