Mitsubishi Motors Shares Surge on Potential Alliance with Nissan and Honda
Shares of Japanese automaker Mitsubishi Motors surged over 6% on Monday, spurred by local media reports indicating the company is in discussions to join an alliance with Nissan Motor and Honda Motor.
The collaboration aims to standardize the in-vehicle software that controls cars, as reported by several media outlets, including Kyodo and the Nikkei business newspaper.
Spokespeople for Mitsubishi, Nissan, and Honda declined to comment on the reports.
In March, Nissan and Honda announced they were considering a strategic partnership to collaborate on producing electric vehicle components and integrating artificial intelligence into automotive software platforms.
By late morning trade, Mitsubishi Motors’ shares had risen by 6.4%, while Nissan’s shares increased by 2.4% and Honda’s shares saw a 2.7% gain.
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