Nissan Motor Co., Ltd. (“Nissan”), Honda Motor Co., Ltd. (“Honda”) and Mitsubishi Motors Corporation (“Mitsubishi Motors”) have signed a Memorandum of Understanding (MoU) to study the possibility of Mitsubishi Motors participating, collaborating and sharing efforts in business integration through the establishment of a joint holding company as described in the MoU signed between Nissan and Honda.

Nissan, Honda and Mitsubishi Motors have reached a basic agreement to move forward with discussions based on the framework established in the memorandum of understanding signed by Nissan and Honda on August 1 to begin a strategic partnership focused on smart technologies and electric vehicles. Mitsubishi Motors has participated in this framework, and the three companies continue their discussions.

Following the agreement between Nissan and Honda to begin exploring business integration through the creation of a joint holding company amidst the dramatic changes in the environment surrounding the two companies and the automotive industry, the three companies have agreed to explore the possibility of maximizing synergies through Mitsubishi Motors’ participation in the business integration process. Mitsubishi Motors aims to reach a conclusion on its participation in the Nissan-Honda business integration by the end of January 2025.

Commenting on the announcement, Nissan CEO Makoto Uchida said: “Honda and Nissan have begun studying their business integration and will explore greater cooperation between the two companies in a wide range of areas. It is important that Nissan’s partner Mitsubishi Motors is also part of these discussions. We expect that if this integration is successful, we will be able to deliver greater value to a broader customer base.”

Honda CEO Toshihiro Mibei said, “At a time when the automotive industry is undergoing a once-in-a-century change, we hope that Mitsubishi Motors’ participation in the Nissan-Honda business integration discussions will lead to further social change and that we can become a leader in creating new value in the mobility sector through business integration. Nissan and Honda will begin their discussions starting today with the aim of clarifying the possibility of business integration around the end of January in line with Mitsubishi Motors’ considerations.”

“In this era of changing automotive industry cycles, the ongoing study between Nissan and Honda on the integration of their businesses will accelerate progress towards maximizing synergies, which will also bring greater value to the cooperation with Mitsubishi Motors,” said Takao Kato, President and CEO of Mitsubishi Motors. “In order to achieve this synergy and best leverage each company’s strengths, we will also study the best forms of cooperation.”

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