Japan's Auto Giants Form Alliances to Tackle EV Challenges

Toyota and Honda lead coalitions to boost electric vehicle development and compete globally.

Toyota forms a coalition with Subaru, Suzuki, and Mazda to develop EVs and alternative fuel engines.
Honda, Nissan, and Mitsubishi create a partnership focusing on software, batteries, and EV components.
The Japanese government aims for a 30% share in the software-defined vehicle market by 2030.
China's dominance in the EV market prompts Japanese automakers to consolidate efforts.
Stellantis CEO warns unprofitable brands, including Chrysler, may face closure if they don't turn a profit.