Nissan Motor, Honda Motor, and Mitsubishi Motors announced that the three companies have signed a memorandum of understanding to jointly discuss a framework for further intelligence and electrification of automobiles, based on an agreement signed by Nissan and Honda earlier this year.

Nissan and Honda are 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. The discussions are being conducted on a broad scope.

To accelerate this process, it’s 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 will not only add new knowledge and strengths but will also provide further synergies that can only be generated by the three companies, as well as new business opportunities.

“The automobile industry is in a period of transformation said to occur once in a century,” said Toshihiro Mibe, president and representative executive officer, with Honda. “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, and help lead societal reforms as a top runner.”