Mitsubishi has been invited to join a planned merger between Honda and Nissan, but the automaker may turn down the offer, Reuters reported on Friday, citing anonymous sources.
According to the sources, Mitsubishi was expected to decide by this month whether to join Honda and Nissan in the merger. However, the only comment the automaker has made is that it is considering various possibilities and that its final decision has not yet been made.
Mitsubishi already has ties with Honda and Nissan, and according to Reuters’s sources, the automaker may choose to remain independent while continuing its collaboration with Honda and Nissan.
Nissan already owns a major stake in Mitsubishi, and the two companies share vehicle platforms and technology through their existing alliance, which also includes Renault. However, Mitsubishi announced last fall that it plans to buy back some of its shares from Nissan to reduce Nissan’s stake from 34% to 27%.
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Mitsubishi has also collaborated with Honda in the past, most recently in the area of battery leasing for EVs through a joint venture called Altna.
Japan’s Yomiuri Shimbun newspaper also reported on Friday that Mitsubishi is considering not joining the merger due to concerns that its smaller size compared to Honda and Nissan could leave it disadvantaged in decision-making.
Nissan and Honda’s merger is expected to be finalized by mid-2025, with the establishment of a holding company to follow a year later, at which point both companies’ shares would be delisted.
