Asia Tech Wire (Aug 1) -- Honda Motor, Nissan Motor and Mitsubishi Motors have agreed to an electric vehicle alliance, according to a statement on Thursday.

The three Japanese automakers signed a memorandum of understanding to begin discussions on a strategic cooperation framework for intelligent and electrified vehicles.

Nissan and Honda signed a memorandum of understanding on strategic cooperation in March.

Under the new agreement, Mitsubishi Motors will join the two companies in discussions.