“Honda and Nissan in Preliminary Talks of a Potential Merger”
According to sources, two of Japan’s largest automotive manufacturers, Honda and Nissan, are in preliminary discussions about a potential merger.
Back in March, Honda and Nissan announced their collaboration on electric vehicle development. This was followed by another partnership in August, where they joined forces to work on battery technology. Over the months, these discussions have expanded to include the possibility of forming a new corporation, where both car manufacturers would operate together.
Next week, the leaders of Honda and Nissan are expected to sign a memorandum of understanding to formally initiate talks about expanding their partnership. This includes exploring the details of a potential merger. However, no final decisions have been made at this stage.
Additionally, Honda and Nissan are reportedly trying to bring Mitsubishi into the fold. If this materializes, it could be one of the biggest mergers in the automotive industry.
A merger between Honda and Nissan would provide them with greater resources to compete with rivals in the electric vehicle market, particularly those from China.
Currently, both Honda and Nissan are facing challenges and losing market share in China and the United States. China alone accounted for nearly 70% of global electric vehicle sales in November 2023.
Nissan reported a 90% decline in operating income from March to September this year compared to the same period last year.
Meanwhile, Honda, a company approximately five times larger than Nissan, also faces significant challenges. They have announced plans to sell only emission-free vehicles in major markets by 2040. However, the transition has been slow due to inadequate charging infrastructure and competition from Chinese automakers.
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