Nissan Motor Co., Ltd. (Nissan), Honda Motor Co., Ltd. (Honda), and Mitsubishi Motors Corporation (Mitsubishi Motors) have signed a memorandum of understanding (MOU) to discuss Mitsubishi Motors’ potential participation in a joint holding company established in an MOU between Nissan and Honda.
The companies have agreed to continue discussions based on the framework of the MOU signed on August 1, focusing on a strategic partnership centered on intelligence and electrification. Mitsubishi Motors is actively involved in these discussions.
Following the agreement between Nissan and Honda to explore a business integration through a joint holding company due to changes in the automotive industry, the three companies will consider Mitsubishi Motors’ involvement. Mitsubishi Motors aims to conclude its participation in the integration between Nissan and Honda by the end of January 2025.
Marking the announcement, Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said:
“Honda and Nissan have begun considering a business integration, and will study the creation of significant synergies between the two companies in a wide range of fields. It is significant that Nissan’s partner, Mitsubishi Motors, is also involved in these discussions. We anticipate that if this integration comes to fruition, we will be able to deliver even greater value to a wider customer base.“
Honda Director and Representative Executive Officer Toshihiro Mibe said:
“At this time of change in the automobile industry, which is said to occur once every 100 years, we hope that Mitsubishi Motors’ participation in the business integration discussions of Nissan and Honda will lead to further social change, and that we will be able to become a leading company in creating new value in mobility through business integration. Nissan and Honda will start the discussion from today onwards with an aim to clarify the possibility of business integration by around the end of January in line with the consideration of Mitsubishi Motors.”
Comment from Mitsubishi Motors Director, Representative Executive Officer, and President and CEO Takao Kato said:
“In an era of change in the automotive industry, the study between Nissan and Honda about a business integration will accelerate synergy maximization effects, bringing high value also to the collaborative businesses with Mitsubishi Motors. In order to realize synergies and to make the best use of each company’s strengths, we will also study the best form of cooperation.”