There's power in numbers. Japanese automaker Mitsubishi Motors is planning to merge with competitors Honda and Nissan to continue its long history of electric vehicle innovation and make headway against larger EV automakers such as Tesla.
What's happening?
In March 2023, Honda and Nissan agreed to start teaming up on EV development. Since Nissan owns roughly 34% of Mitsubishi, the latter company was also included in these discussions.
Now, Mitsubishi has announced that the three companies are planning a full merger — signing a memorandum of understanding that could open new doors in the development of EV tech and new vehicles.
"In an era of change in the automotive industry, the study between Nissan and Honda about a business integration will accelerate synergy maximization effects, bringing high value also to the collaborative businesses with Mitsubishi Motors," said Mitsubishi CEO Takao Kato in a press release.
"In order to realize synergies and to make the best use of each company's strengths, we will also study the best form of cooperation," Kato added.
Why is this EV-focused merger encouraging?
EVs are the future of ground transportation. They're quieter, healthier, and cheaper to drive, winning them a growing share of the total auto market in the U.S. and worldwide. The increasing number of charging stations and steadily dropping purchase prices are also making them more accessible to more consumers.
Driving an EV is also an effective way for individuals to reduce pollution and cool our planet. That's because they're powered by electricity, which can come from renewable sources such as wind and solar rather than burning fossil fuels. The United Nations recognizes fossil fuels, including gasoline and diesel, as the No. 1 cause of heat-trapping air pollution that is smothering our overheating planet.
What's Mitsubishi's overall sustainability plan?
Mitsubishi's history as an EV innovator began with its i-MiEV electric car in 2009. It was compact and versatile and boasted a long range for EVs at the time, making it a perfect choice for taxi and rental fleets.
The company continues that tradition of pushing boundaries as it develops new EVs for the global market. For example, its plug-in hybrid has won the Family Green Car of the Year award for three years in a row. The hybrid SUV boasts a 38-mile all-electric range and up to 420 miles of total range.
|
Do you think a majority of Americans will have EVs in 20 years? Click your choice to see results and speak your mind. |
Absolutely 👍 Bottom line: Mitsubishi's planned merger with Honda and Nissan is a strong step toward more EV innovation that can help the planet and save drivers money on fuel and maintenance.
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Cool Picks
