Mitsubishi joins Honda and Nissan’s wide-ranging partnership [Video]

Mitsubishi already has links with Honda and Nissan, and now the automaker has joined a wide-ranging partnership that was initially formed between Honda and Nissan in March.

The news was first reported by the Nikkei on Sunday and confirmed by the three automakers on Thursday.

In a joint statement, the automakers said they have signed a memorandum of understanding to jointly explore the potential for collaboration, specifically in the areas of vehicle electrification and software development. They also said Mitsubishi joining the partnership will help provide additional synergies and business opportunities compared to a partnership solely made up of Honda and Nissan.

According to the previous Nikkei report, Mitsubishi teaming up with Honda and Nissan will leave Japan with two dominant auto groups. One will be Toyota and its associated brands and the other will be the alliance between Honda, Nissan, and Mitsubishi. Combined, the two groups last year sold over 19 million vehicles.

Nissan already owns 34% of Mitsubishi …