Nissan, Mitsubishi form JV in EV, autonomous push

Japan’s Nissan Motor and Mitsubishi are forming a joint venture by the end of this fiscal year for services involving EVs and autonomous cars, according to Japanese media outlet Yomiuri Shimbun.  

The JV aims to provide robotaxi services using Level 4 autonomous driving technology and at-home EV battery storage, among other services.

Nissan is developing the robotaxis, while Mitsubishi is working towards commercializing a system that uses AI to determine optimal routes.

The robotaxi services are expected to be initially launched in Yokohama and Namie in Japan.

The JV will also aim to provide a service that connects EVs to homes and power grids, allowing people to use electricity stored in their cars at home or sell it to power firms, the report says.

Collection of used EV batteries for secondary use and recycling will also be explored.

The venture is going to be funded equally by the two Japanese companies. 

Mitsubishi Motors was set to join an alliance between Honda and Nissan, a tie-up between automakers with combined sales of over 8 million vehicles, according to media reports from earlier this year.

Nissan, Japan’s third-biggest carmaker, has been losing market share in the US and China. 

Meanwhile, Mitsubishi Motors reported a decline in sales and profit in its first half FY 2024 earnings call. The company said an increase in vehicle supply, intensifying competition, and a delay in the macroeconomic recovery in Thailand and Indonesia contributed to a slowdown in automobile demand. Net sales fell by 2% year-on-year to ¥1307.4 billion, while operating profit decreased by 13% to ¥90.7 billion.