Not Dead Yet: Mitsubishi Breaths New Life

Japanese Automaker Mitsubishi Motors has made a grand return, with reports showing a 6% rise in shares as of Monday morning, July 29,2024.

This comes after recent reports that the company has been in talks to join the Nissan—Honda strategic Alliance, which was proposed in March 2024 and aimed at establishing cooperation in the manufacturing of electric vehicle components and artificial intelligence in automotive software platforms.

Fans have been disappointed with the Mitsubishi motors line up, calling it 'laughable' after the automaker axed models like the Eclipse and the Evolution series.

In recent years, the company's lineup outside the Japanese Domestic market has only included the Outlander with its PHEV variants, and the Mirage.

But the company is still very much alive, coming second in ranks as the most valuable company in Japan at $133 billion after Toyota Motor Corporation.

Their motoring division is just a small section of its trade, Mitsubishi also manufacturers energy, chemicals, nuclear systems, Electronics, Home appliances, Aircrafts and much more. 

This rise comes after Honda announced an October exit for its ICE manufacturing plant in China, citing harsh conditions in the Chinese auto market, and prospects for a total E.V. line-up by 2026.

The Honda-Nissan-Mitsubishi alliance will standardise in-vehicle software while also creating economies of scale in an EV market dominated by China's BYD.

The collaboration of the three rivals leaves Toyota as the lone wolf in the Japanese automaker industry, stressing that the world is not ready for Electric vehicles just yet.