Nissan, Honda, and Mitsubishi Motors Sign MOU to Explore Collaborative Business Integration

December 23, 2024 | Tokyo, Japan

Nissan Motor Co., Honda Motor Co., and Mitsubishi Motors Corporation have signed a Memorandum of Understanding (MOU) to explore Mitsubishi Motors’ potential involvement in the proposed business integration between Nissan and Honda. This initiative seeks to maximize synergies in electrification, intelligence, and sustainability while addressing rapid industry transformations.

Key Highlights

• Tri-Company Collaboration:
  Mitsubishi Motors joins Nissan and Honda in discussions to establish a joint holding company, which was initially outlined in an August 2024 MOU between Nissan and Honda.
• Strategic Objectives:
  • Enhance synergies in electrification and advanced automotive technologies.
  • Strengthen competitiveness amid evolving market demands and regulatory changes.
  • Align with global trends in sustainable mobility.
• Timeline:
  Mitsubishi Motors aims to finalize its participation decision by January 2025, following extensive evaluations of potential benefits and contributions.

Leadership Insights

• Makoto Uchida, CEO, Nissan:“Incorporating Mitsubishi Motors into these discussions enables us to explore greater synergies, enhancing our ability to deliver value to customers globally.”
• Toshihiro Mibe, CEO, Honda:“This partnership could redefine mobility by creating new value through integration during this transformative era for the automotive industry.”
• Takao Kato, CEO, Mitsubishi Motors:“Joining this collaboration will allow us to contribute our strengths, maximizing synergies and advancing our shared goals.”

Potential Impacts

• Strengthened EV Leadership:
  • Combined resources will enable the development of innovative electric vehicle platforms and battery technologies, addressing growing EV demand.
• Expanded Market Reach:
  • Collaboration may enhance competitiveness in regions like China and Europe, where EV adoption is surging.
• Cost Optimization:
  • Sharing R&D and production resources may lower development costs and accelerate innovation.

Challenges to Address

1. Regulatory Approvals:
   Securing clearances from relevant authorities in key markets.
2. Operational Integration:
   Aligning processes across three distinct corporate cultures.
3. Synergy Realization:
   Ensuring measurable outcomes in efficiency, market share, and innovation.