TOKYO — Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels.
FILE – Nissan Chief Executive Makoto Uchida, left, and Honda President Toshihiro Mibe attend a joint news conference in Tokyo, Friday, March 15, 2024.
There are “points that need to be studied and discussed,” he said. “Frankly speaking, the possibility of this not being implemented is not zero.” News of a possible merger surfaced earlier this month, with unconfirmed reports saying that the talks on closer collaboration partly were driven by aspirations of Taiwan iPhone maker Foxconn to tie up with Nissan by buying shares from the Japan’s company’s other alliance partner, Renault SA of France.
in late 2018 on charges of fraud and misuse of company assets, allegations that he denies. He eventually was released on bail and fled to Lebanon. Nissan also has years of experience building batteries and electric vehicles, and gas-electric hybird powertrains that could help Honda in developing its own EVs and next generation of hybrids, he said. or about 6% of its global work force, and reducing its global production capacity by 20% after reporting a quarterly loss of 9.3 billion yen .
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nissan and Honda May Merge to Combat Chinese CompetitionNissan is reportedly facing a dire situation with a possible survival timeframe of 12 to 14 months. Amidst production halts and struggling sales, a merger with Honda is being explored as a potential solution. While neither company has officially confirmed the merger, Nikkei Asia reports that a new holding company would oversee the combined operations. Honda, Nissan, and Mitsubishi have already collaborated on EV and ICE technology, suggesting a foundation for closer integration. The merger aims to bolster both brands against the rising dominance of Chinese automakers like BYD and Geely.
Read more »
Honda and Nissan to Join Forces in Automotive PartnershipHonda and Nissan have signed a memorandum of understanding to explore a potential partnership, with Mitsubishi possibly joining later. The companies aim to leverage synergies in technology, research, and development to create a greater value proposition.
Read more »
Honda and Nissan to launch merger talksTokyo, Japan—Japanese auto giant Honda and its struggling rival Nissan agreed Monday to launch talks on a merger seen as a bid to catch up with
Read more »
Honda, Nissan, and Mitsubishi to Explore Business IntegrationThree Japanese automakers, Honda, Nissan, and Mitsubishi, have announced their intent to discuss business integration through a memorandum of understanding (MOU). The companies aim to explore synergies and partnerships, particularly in areas of intelligence and electrification, but stress that each brand will maintain its own identity and sustainability.
Read more »
'Not a pragmatic deal' - Carlos Ghosn on possible Nissan-Honda mergerFormer Nissan Chairman, Carlos Ghosn (who escaped captivity in Japan), shares his opinions to Bloomberg about a potential Nissan and Honda merger.
Read more »
Honda and Nissan in Talks for Deeper Partnership, Possible MergerHonda Motor Co., Ltd. and Nissan Motor Co., Ltd. are in talks to deepen their strategic partnership, which may lead to a full merger. This comes as both companies face challenges from Tesla and Chinese rivals. A combined entity would create a $54 billion company, the world's third-largest auto group by vehicle sales.
Read more »