Confirming earlier media reports, Nissan Motor, Honda Motor and Mitsubishi Motors announced today they had signed a memorandum of understanding to jointly discuss a framework for further intelligence and electrification of automobiles based on the agreement signed by Nissan and Honda on 15 March.

Nissan and Honda were working to further accelerate initiatives aimed at achieving carbon neutrality and a zero-traffic-accident society. In anticipation of collaboration in areas such as environmental technologies, electrification technologies, and software development, discussions were being conducted on a broad scope.

To accelerate this process, it was essential to create new value by integrating the technologies and knowledge cultivated by each company, and to improve business efficiencies. The participation of Mitsubishi Motors in the areas of potential collaboration considered and discussed by Nissan and Honda would add new knowledge and strengths but also provide further synergies that can only be generated by the three companies, as well as new business opportunities.

Makoto Uchida, president and CEO Nissan, said: "Mitsubishi Motors has unique technologies and expertise and has been collaborating with Nissan as a partner. Through collaboration among the three companies, we expect the partnership to evolve into something that creates greater value, and to deliver unique products and services from each company that meet the diverse needs of customers."

Toshihiro Mibe, president of Honda, added: "The automobile industry is in a period of transformation said to occur once in a century. We expect that the combination of technologies and knowledge cultivated by Nissan and Honda, as well as the strength and experience of Mitsubishi Motors, will enable us to more quickly resolve various issues related to electrification and intelligence on a global scale."

Takao Kato, president and CEO, Mitsubishi, concluded: "Nissan and Honda’s discussions on a possible partnership have progressed, and we have decided to participate in this framework. 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.”