Mitsubishi joins Honda and Nissan in EV partnership

Aug. 1 (UPI) -- Mitsubishi Motors Corp. agreed to join an electric vehicle partnership with Nissan Motor Co. and Honda Motor Co., according to a new memorandum of understanding signed by the three Japanese auto giants on Thursday.

The memorandum opens the door for the three to jointly discuss a framework for "further intelligence and electrification of automobiles," based on a previous working arrangement signed by Nissan and Honda back in March, according to a statement.

The companies said they hope to accelerate their EV efforts and "improve business efficiencies" through the partnership.

"We are very pleased to welcome a new member to the strategic partnership between Honda and Nissan," Makoto Uchida, president and CEO of Nissan said in a statement. "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 meets the diverse needs of customers."

Nissan and Honda said they are working on speeding up goals of developing carbon-neutral technologies along with the promise of a zero-traffic-accident society that comes with automation.

"Nissan and Honda's discussions on a possible partnership have progressed, and we have decided to participate in this framework,'' Takao Kato, president and CEO of Mitsubishi said in a statement. ''Collaboration with partners is essential in today's automotive industry, which is undergoing rapid change due to technological innovations such as electrification and intelligence.

''We believe that we can discover new possibilities in possibilities in a variety of fields through collaboration among the three companies.''