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| Nissan, Honda, and Mitsubishi |
Japan's leading automakers Nissan, Honda, and Mitsubishi have announced a joint collaboration in research of electric vehicle (EV) components and autonomous driving software. This strategic partnership has been done to cope with the rapid changes in the EV industry, which will enable these companies to compete with new competitors like Tesla and BYD.
Nissan and Honda started this partnership in March, in which Mitsubishi has also joined after 100 days of talks. Under this cooperation, these companies will share important components like batteries, motors, and inverters, which will help in cutting costs and increasing volumes.
Honda CEO Toshihiro Mibe said, "Companies that do not adapt to changes cannot survive." At the same time, Nissan CEO Makoto Uchida stressed the importance of "making friends", saying that cooperation will lead to more investment in technology and a reduction in costs.
The partnership aims to collaborate not only in the EV sector but also in internal combustion engine vehicles, making the model lineups of the two companies "mutually complementary" in global markets. Along with this, these companies will also work together on energy services in Japan.
However, this three-way collaboration does not include Japan's largest automaker Toyota. But it is expected that the combined strength of Nissan, Honda, and Mitsubishi will help them move ahead in the EV market.
Mibe and Uchida said that this partnership is an effort to move quickly in a new direction. Uchida said, "Given our size, speed is the most important element." He also admitted that despite the fast pace of companies like BYD, they still have time and opportunity to move ahead.
This partnership will give a new direction to Japan's auto industry, with Nissan, Honda, and Mitsubishi preparing to write a new success story together.
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