When it comes to EVs, it’s actually China that’s leading the way in terms of sales volume. At the moment, it’s BYD at the top, surpassing Tesla in the global electric car sales race.
Meanwhile in Japan, automakers are teaming up together to counter China’s EV offensive. The three companies are Honda, Mitsubishi, and Nissan.
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Originally, it was Honda and Nissan that were joining forces for electrified and electric vehicle research and development. More recently, it was reported that Mitsubishi was to join the two to for an alliance. Now, it’s official after the three signed a Memorandum of Understanding (MoU).
“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,” said Takao Kato, President and CEO of Mitsubishi Motors.
The main goal of this alliance is hasten vehicle and powertrain development, as well as producing software related to hybrid and electric drive systems. Achieving economies of scale to sell electric and electrified vehicles at lower prices is another goal the three have in place. The Chinese have been undercutting Japan and the West when it comes to EV pricing, and this alliance aims to wipe out that advantage.
But it’s not just EVs and hybrids being the reason behind this cooperation. The three are also set to share ICE models to complete each other’s lineups. While it’s not clear as up to what extent, we might see one platform being shared across these three automakers.
