Honda Motor and Nissan Motor agreed to collaborate on software, batteries and other electric vehicle-related technologies to save on costs and better compete in markets such as China, where sales are slumping.
Mitsubishi Motors, which already has ties with Nissan, will join a broader strategic partnership with the duo. Asked whether there were any talks of a capital alliance between Honda and Nissan, Honda President Toshihiro Mibe said: "We have not discussed a capital alliance as yet, but don’t deny the possibility."
The partnership, aimed at sharing costs through joint development, pits the trio against Toyota Motor, which has built its own consortium via stakes in Subaru, Suzuki Motor and Mazda Motor. Nissan’s steps to forge a closer relationship with Honda follows its decision in early 2023 to overhaul its alliance with Renault, which was dealt a mortal blow by the 2018 arrest of former Chairman Carlos Ghosn.
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