12/18/2018

Mitsubishi Joins Renault-Nissan-Mercedes Tech Group

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Mitsubishi Motors Corp. has agreed to join as a non-equity partner in a broad technology-sharing alliance with Daimler, Nissan and Renault.

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Mitsubishi Motors Corp. has agreed to join as a non-equity partner in a broad technology-sharing alliance with Daimler, Nissan and Renault.

The move marks a renewed relationship between Daimler and MMC. The Germany carmaker acquired a 34% controlling stake in a then-struggling Mitsubishi Motors in 2000, increasing it to 37% in 2001. Daimler sold its holdings five years later.

MMC, now controlled by Nissan’s 34% stake in the company, joined the Renault-Nissan alliance in 2016. Under that 19-year-old partnership, Renault owns 43% of Nissan, which holds a 15% stake in Renault.

Renault, Nissan and Daimler launched a separate tech and product alliance in 2010. That partnership gave the Renault-Nissan alliance a 3.1% stake in Daimler. In return, Daimler acquired stakes of 3.1% in each of the other two companies.

Under the tech partnership, Daimler and Renault shared the platform that carries their current Smart ForFour and Renault Twingo city cars. Daimler also supplies gasoline and diesel engines to Nissan’s Infiniti brand luxury cars.

The three companies also are cooperating on future engine development, light-commercial vehicles and an assembly plant co-operated in Mexico by Daimler and Nissan. MMC is expected to contribute expertise in electrification to the tech alliance.