Nissan, Honda and Mitsubishi Motors sign MOU on collaborative considerations

Nissan, Honda and Mitsubishi Motors have entered into a basic agreement to continue discussions based on the framework established in the MOU signed by Nissan and Honda on August 1 regarding the initiation of a strategic partnership focused on intelligence and electrification. Mitsubishi Motors has participated in this framework, and the three companies have been engaged in discussions.

Following the agreement between Nissan and Honda to begin consideration of a business integration through the establishment of a joint holding company amid the dramatic changes in the environment surrounding both companies and the automotive industry, the three companies have agreed to explore the possibility of achieving synergies on a increased level through Mitsubishi Motors’ participation or involvement in the business integration. Mitsubishi Motors aims to reach its conclusion by the end of January 2025 on participation or involvement in the business integration between Nissan and Honda.

In connection with the announcement, Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said: “Honda and Nissan have begun to consider a business integration and will study the creation of significant synergies between the two companies in a wide range of areas. It is Significantly, Nissan’s partner, Mitsubishi Motors, is also involved in these discussions. We expect that if this integration becomes a reality, we will be able to deliver even greater value to a wider customer base.”

Honda director and representative to CEO Toshihiro Mibe said: “At this time of change in the automotive 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 a goal of clarifying the possibility of business integration around the end of January in line with the consideration of Mitsubishi Motors.”

Comment from Mitsubishi Motors director, representative of the CEO and president and CEO Takao Kato said: “In an era of change in the automotive industry, the study between Nissan and Honda on a business integration will accelerate synergy maximization effects, which also brings high value to the cooperative companies with Mitsubishi Motors. In order to realize synergies and make the best possible use of the individual company’s strengths, we will also investigate the best form of collaboration.”