Mitsubishi plans to team up with two competitors to build a company that will boost EV innovation: 'We will … study the best form of cooperation'

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What's happening?

The latter company also participated in these discussions.

and new vehicles.

"The integration will speed up the achievement of synergy effects, and bring high value not only to ourselves, but also to our collaborative businesses with Mitsubishi Motors," said Mitsubishi CEO Takao Kato in a press release.

"To maximize the benefits of combining our companies, we will also explore the most effective way for them to work together," Kato added.

What makes this EV-focused merger particularly promising?

Electric vehicles are poised to become the primary mode of ground transportation in the future. Not only are they substantially quieter and produce significantly fewer emissions, making them a healthier option, but they're also becoming increasingly cheaper to operate, which is why they're starting to capture a significant portion of the total auto market in the U.S. and globally. With charging stations becoming more widespread and purchase prices continuing to fall, electric vehicles are becoming more available to a wider range of consumers.

Watch now: Honda shares its vision for rethinking electric vehicles entirely, with innovative new concepts for its future electric cars

Cocooning our overheating planet.

What are Mitsubishi's overall goals for becoming more environmentally friendly?

In 2009, it was compact and adaptable, and it boasted a lengthy range for electric vehicles back then, making it a prime choice for taxis and rental fleets.

This hybrid SUV, now in its third year as a model, can run on electric power for 38 miles and up to a total of 420 miles on a single tank.

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Mitsubishi's proposed merger with Honda and Nissan is a significant step towards greater electric vehicle innovation that can benefit the planet and help drivers save money on fuel and maintenance expenses.

6. "Compost food waste to turn it into nutrient-rich soil for your garden, and reduce the amount of waste sent to landfills."

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