Photo/Illutration The logo of Mitsubishi Motors Corp. (Asahi Shimbun file photo)

Mitsubishi Motors Corp. is considering joining the planned electric vehicle alliance between Honda Motor Co. and Nissan Motor Co., according to sources on July 28.

If realized, this move would create a new three-company alliance in Japan, challenging the bloc led by Toyota Motor Corp.

With Nissan holding a 34-percent stake in Mitsubishi, the two companies already collaborate on developing and manufacturing “kei” vehicles--small, low-powered, low-taxed domestic vehicles.

Joining the Honda-Nissan alliance would allow Mitsubishi to further optimize its EV manufacturing costs and potentially expand its collaboration with Honda in the domestic minivehicle market.

As Mitsubishi seeks to restructure its business following its withdrawal from the Chinese market, this partnership is seen as a crucial step for survival.

Honda and Nissan announced their plans for a strategic partnership in March, aiming to collaborate on core components and vehicle software development.

With Tesla and China’s BYD Co. leading the EV race, automakers worldwide are forging partnerships and alliances to stay ahead in autonomous driving and other new technologies.

With Honda selling 3.99 million vehicles, Nissan 3.37 million and Mitsubishi 0.79 million, the combined global sales of the three companies exceeded 8 million units in 2023.

In comparison, Toyota, with its global sales surpassing 10 million units, has formed an alliance with Suzuki Motor Corp., Daihatsu Motor Co., Mazda Motor Corp. and Subaru Corp.

The emergence of a new three-company alliance would solidify a two-camp division among Japanese automakers.

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