12:59 PM EDT, 08/01/2024 (MT Newswires) -- Honda Motor ( HMC ) and Nissan Motor said Thursday they agreed to conduct joint research into technology platforms for next-generation software-defined vehicles.

The agreement is based on a memorandum of understanding, or MOU, the companies signed in March to start talks on a partnership for the age of intelligence and electrification, according to the joint statement.

The companies said they have signed another MOU to further the framework of the strategic partnership.

Honda ( HMC ), Nissan and Mitsubishi Motors said in a separate statement that the three companies signed an MOU to jointly discuss a framework for intelligence and electrification of automobiles based on the agreement between Honda ( HMC ) and Nissan in March.

Shares of Honda ( HMC ) were down 3.9% in recent trading.

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