Mitsubishi Electric Mobility and AISIN announced a business partnership to develop products for next-generation xEVs, marking a shift from their previous plan to establish a joint venture.
This development reflects the evolving needs of vehicle electrification and the strategic reallocation of corporate resources, according to the companies.
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In May this year, a basic agreement was announced by Mitsubishi Electric Group and AISIN to establish a joint venture company for handling products for next generation electric vehicles. However, this agreement has now been terminated.
With the growing diversity in electrification needs among car manufacturers, Mitsubishi Electric Mobility and AISIN have determined that entering into this latest agreement is “the best course of action at this time.”
Under the agreement, Mitsubishi Electric Mobility and AISIN will collaborate on a project involving electric drive modules for xEVs, which AISIN has been developing.
After finalising the agreement, the two companies plan to begin development immediately. By leveraging their technological strengths, they aim to create competitive products set to launch in the latter half of the 2020s.
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By GlobalDataMeanwhile, the companies will continue discussions on the scope and timing of setting up the joint venture as a framework for future collaboration.
In August 2024, Mitsubishi Motors signed a memorandum of understanding with Nissan Motor and Honda Motor to explore a framework for advancing intelligence and electrification in automobiles, building on the agreement that Nissan and Honda signed on 15 March.
Mitsubishi CEO and president Takao Kato had then said: “Collaboration with partners is essential in today’s automotive industry, which is undergoing rapid changes due to technological innovations such as electrification and intelligence. We believe that we can discover new possibilities in a variety of fields through collaboration among the three companies.”
