Mitsubishi Motors’ shares rise after reports it might join Nissan-Honda alliance

Shares of Japanese automaker Mitsubishi Motors (7211.T), opens new tab rose more than 6% on Monday following local media reports the company is in talks to join an alliance between Nissan Motor (7201.T), opens new tab and Honda Motor (7267.T), opens new tab.

The three Japanese automakers are considering teaming up to standardise in-vehicle software that controls cars, several media outlets, including Kyodo and the Nikkei business newspaper, said.

Spokespeople for all three companies declined to comment.

Nissan and Honda said in March they were considering a strategic partnership to collaborate on producing electric vehicle components and artificial intelligence in automotive software platforms.

Shares of Mitsubishi Motors were up 6.4% in late morning trade, while those of Nissan rose 2.4% and Honda’s gained 2.7%.