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Report: Mitsubishi Motors, Daimler to renew ties after 13 years

Mitsubishi Motors Corp. will cooperate with Daimler AG on manufacturing and next-generation technologies, The Nikkei Asian Review reported Dec. 16.

The Japanese carmaker will join its alliance partners Nissan Motor Co. Ltd. and Renault SA in partnering with the German luxury carmaker, the report said, 13 years after the two companies ended a previous relationship.

According to the Nikkei, the specifics of the deal are yet to be defined, but Mitsubishi is likely to share its technological expertise on electric vehicle development and key components.

Despite the ouster and imprisonment of former chairman Carlos Ghosn, Mitsubishi reportedly believes the partnership will help it prepare for future cars.

Ghosn, who led efforts to cooperate with Daimler, was removed as chairman of Nissan and Mitsubishi, although he remains as chairman and CEO of Renault pending the results of an investigation.

Nissan and Renault partnered with Daimler in 2010, and each owns a 3.1% stake in the Mercedes-Benz producer. Daimler, on the other hand, owns 1.55% of both companies.

Daimler acquired a 34% stake in Mitsubishi in 2000 as the latter recovered from a defect cover-up scandal but sold its last shares in 2005.