Japan's Three Major Carmakers Honda, Nissan and Mitsubishi Sign Strategic Cooperation Memorandum
TapTechNews August 1st news, Japan's three major carmakers Honda, Nissan and Mitsubishi officially signed a strategic cooperation memorandum today, and will begin to discuss the cooperation framework for intelligent and electrified vehicles. Nissan and Honda previously signed a memorandum of understanding for strategic cooperation on March 15th. According to the new agreement, Mitsubishi will join the discussions of the two companies.
Nissan disclosed in the official press release that the company and Honda will further accelerate the realization of the goal of carbon neutrality and a society with zero traffic accidents, and develop environmental protection technologies, and conduct discussions in a wide range of areas electric vehicle technology, software development and other fields of cooperation. The addition of Mitsubishi Motors will not only add new knowledge reserves, but also aims to further obtain the synergy and new business opportunities of the three companies.
According to TapTechNews' previous report, the market share of Nissan, the third-largest carmaker in Japan, in the two largest markets, the United States and China, has been steadily declining. In the year ending in March of this year, these two markets accounted for half of its global sales. Due to the large-scale promotion in the US market almost wiping out all profits in the first quarter, Nissan lowered its annual outlook.
Industry experts believe that this cooperation will help Japanese automakers reduce costs and jointly deal with the fierce competition in the field of electric vehicles, which is currently dominated by companies such as BYD and Tesla.
In March this year, Nissan and Honda announced the signing of a memorandum of understanding. According to the memorandum, the two sides will begin to cooperate in the field of electric vehicles, involving vehicle electrification, intelligence, software platforms, and core components related to electric vehicles, etc.