Eagers Automotive (ASX:APE) entered into a non-binding memorandum of understanding (MoU) with Mitsubishi to form a strategic alliance that will explore collaboration initiatives and business opportunities across the automotive and mobility sector, according to a Monday Australian bourse filing.
The company said the MoU aims to accelerate growth opportunities domestically and internationally across its new vehicle dealership network and independent used car business, and to explore business opportunities across financial services, fleet management, and lifecycle ownership products for new energy vehicles.
The company's shares shed about 1% in recent Monday trade, earlier hitting an all-time high.
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