Japan's Honda and Nissan in preliminary merger talks: reports
The Hindu
Honda and Nissan in preliminary merger talks to compete against Tesla and Chinese EV makers, facing industry challenges.
Japanese auto giants Honda and Nissan are in preliminary merger talks, according to media reports on Wednesday (December 18, 2024), adding that a tie-up would aim to help them better compete against Tesla and Chinese electric vehicle makers.
Shares in Nissan soared more than 20% on the stories in the Nikkei, Financial Times and others, while Honda dipped more than 2%. Mitsubishi Motors— of which Nissan the top shareholder— gained 13%.
Japan's number two and three automakers behind Toyota had already agreed in March to explore a strategic partnership on EVs.
"We are discussing possibilities for cooperation between Honda and Nissan in the future, in a wide range of fields and in various areas, and those possibilities include the latest reports, but there is nothing decided," a Honda spokesman told AFP on Wednesday.
Nissan said: "The content of the report is not something that has been announced by either company. As announced in March of this year, Honda and Nissan are exploring various possibilities for future collaboration, leveraging each other's strengths.
"If there are any updates, we will inform our stakeholders at the appropriate time."
Major automakers the world over have been reeling from tough competition in EVs, in particular from Chinese competitors such as BYD.
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