Honda Mitsubishi MOU brings Triton pickup to ASEAN

Honda Motor and Mitsubishi Motors signed a memorandum of understanding on October 22 to develop a Honda model based on the Mitsubishi Triton pickup truck, the companies said. The Honda Mitsubishi MOU marks the first initiative between the two Japanese automakers for complementary supply to each other's product lineups. The signing took place in Tokyo, where both companies are headquartered.

The Honda ASEAN pickup is scheduled to go on sale in 2028 under the Honda Mitsubishi MOU. Honda currently offers no pickup truck in the region, and the deal gives it a fast route into one of Southeast Asia's most competitive segments.

Honda Mitsubishi MOU builds on 2024 partnership

The Honda Mitsubishi MOU grows out of a strategic partnership framework set up on August 1, 2024, when Honda, Mitsubishi Motors and Nissan signed an MOU to explore collaboration. The three companies have since discussed ways to use each other's products and capabilities to strengthen their lineups quickly and respond to regional market needs. One of the opportunities the three explored was complementary supply of each other's vehicles, which would let them use globally competitive products to strengthen lineups aligned to regional business conditions, Honda said.

Complementary vehicle supply, in which each company uses the others' models to fill gaps in its own range, was one of the areas the three explored from the start. Honda said the three companies have been extensively exploring and discussing complementary supply from both short- and medium-to-long-term perspectives. The three companies have also explored product and technology sharing, Team-BHP reported. The Triton-based Honda pickup is the first such project between Honda and Mitsubishi Motors to reach an agreement. The three-way partnership followed the collapse of proposed merger talks between Honda and Nissan.

Triton gives Honda an ASEAN pickup

The Mitsubishi Triton is a one-ton pickup built on a ladder frame. It is one of Mitsubishi Motors' global strategic models and is in high demand, particularly in the ASEAN region. Honda said using the Triton as the base will let it quickly and efficiently expand its product lineup to meet customer needs in the region.

For Honda, pickups are unfamiliar territory in ASEAN. The company sells no pickup in the region today, so the Triton-based model fills a clear gap in its lineup. The approach saves Honda the cost and time of developing its own pickup from scratch, Team-BHP noted. The Honda Mitsubishi MOU lets Honda re-enter the ASEAN pickup market without building its own truck. Honda's announcement described the arrangement as the first initiative between the two companies for complementary supply to each other's product lineups. The Honda ASEAN pickup will face established rivals including the Toyota Hilux, the Ford Ranger and the Isuzu mu-X, according to Autocar Philippines. The model will compete in a segment long dominated by Japanese and American pickups.

Triton Thailand plant gains from Honda Mitsubishi MOU

Mitsubishi Motors also stands to gain from the Honda Mitsubishi MOU. The company said the collaboration will increase production volume and improve capacity utilization at the Triton Thailand plant. Thailand is the main production base for the Triton, and the companies said they reached the agreement after determining it would create mutual benefits.

The two companies said the Honda Mitsubishi MOU followed talks on synergies and on using each other's product portfolios to meet regional market needs more efficiently. They said the arrangement would create operational synergies for both sides.