November 27, 2018 / 5:55 AM / 15 days ago

Mitsubishi Motors executive stresses importance of alliance with Nissan, Renault

FILE PHOTO: October 18, 2017, Tokyo, Japan - Japan's automaker Mitsubishi Motors (MMC) vice president Mitsuhiko Yamashita attends a press conference in Tokyo on Wednesday, Octoebr 18, 2017. (Photo by Yoshio Tsunoda/AFLO)

OKAZAKI, Japan (Reuters) - A top executive at Mitsubishi Motors Corp (7211.T) 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 (7201.T) and Renault SA (RENA.PA).

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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