Photo Credit: Reuters
Shares of Japanese automaker Mitsubishi Motors (7211.T) surged over 6% on Monday, following reports from local media suggesting that the company is in discussions to join a partnership between Nissan Motor (7201.T) and Honda Motor (7267.T).
According to several sources, including Kyodo and the Nikkei business newspaper, the three Japanese auto giants are exploring the possibility of collaborating to standardize in-vehicle software that controls their cars.
In March, Nissan and Honda had announced that they were considering a strategic alliance to jointly develop electric vehicle components and advance artificial intelligence in automotive software platforms.
As a result of these reports, Mitsubishi Motors’ shares rose by 6.4% in late morning trading, while Nissan’s shares increased by 2.4% and Honda’s by 2.7%.
Spokespeople for all three companies have declined to comment on the speculation.