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Mitsubishi Motors executive stresses importance of alliance with Nissan, Renault

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Journalists wait for Mitsubishi Motors Corp’s President and CEO Osamu Masuko at a showroom of the company’s headquarters in Tokyo, Japan November 26, 2018. REUTERS/Toru Hanai

OKAZAKI, Japan (Reuters) – A top executive at Mitsubishi Motors Corp said on Tuesday that the days of a single automaker being able to develop new technologies on its own were fading, stressing the importance of its alliance with Nissan Motor Co and Renault SA.

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Mitsuhiko Yamashita, an executive vice president at Mitsubishi Motors who once served as Nissan’s top engineer, said the three-way partnership will continue to source more auto components together, while leveraging their ties to develop technologies.

He was speaking to reporters at a company event in Okazaki, central Japan.

Yamashita’s comments come a day after Mitsubishi Motors removed Carlos Ghosn as chairman, following his arrest and ouster from Nissan last week for alleged financial misconduct.

Reporting by Maki Shiraki; Writing by Chang-Ran Kim; Editing by Muralikumar Anantharaman

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