Honda and Nissan to Explore Merger in Bid to Catch Up in EVs

Japanese auto giants Honda and Nissan agreed on Monday to launch talks on a merger, aiming to compete with Chinese rivals and Tesla in the electric vehicle market. The collaboration would create the world's third largest automaker, bolstering the development of EVs and self-driving technology. However, Honda's CEO emphasized that the merger was not a bailout for struggling Nissan, which recently announced job cuts and a significant drop in profits.

He stressed that Nissan must complete its 'turnaround' plan as a condition for the merger. The move comes amid a challenging business environment for automakers, with sluggish consumer spending and fierce competition, particularly in China, where electric vehicle manufacturers like BYD are gaining ground. The two firms, along with Mitsubishi Motors, signed a memorandum of understanding to explore integrating their businesses under a new holding company, with plans to list it on the Tokyo Stock Exchange in August 2026. This follows reports that Taiwanese electronics giant Foxconn had previously approached Nissan for a majority stake, and then Renault for its 35 percent stake in Nissan, although those pursuits are now reportedly on hold. China's rise as the largest vehicle exporter last year, fueled by government support for EVs, has added to the pressure on Japanese automakers. Honda and Nissan, Japan's second and third largest automakers after Toyota, had already agreed in March to explore a strategic partnership on software and components for EVs and other technologies

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Honda and Nissan in Merger Talks to Bolster EV CompetitivenessHonda and Nissan are reportedly in preliminary merger discussions, aiming to strengthen their position against Tesla and Chinese electric vehicle manufacturers. The potential tie-up, which could involve Mitsubishi Motors, would create a three-way all-Japanese automotive partnership. While both companies have confirmed discussions, no final decisions have been made.
La source: TheCitizen_News - 🏆 6. / 75 Lire la suite »

Honda and Nissan in Merger Talks to Combat EV CompetitionHonda and Nissan are exploring a potential merger to better compete with Tesla and Chinese electric vehicle manufacturers. The talks follow a March agreement to collaborate on EVs. Both companies face challenges in the EV market, including intense competition and declining sales.
La source: TheStar_news - 🏆 26. / 59 Lire la suite »

Nissan Seeks Investment Amid Troubled Times and Potential Stake SaleNissan is facing significant challenges, aiming to cut global production and workforce, with insiders suggesting severe financial strain. The company may have only 12 to 14 months to survive unless it receives support from key partners like Renault and Japan, while Renault plans to reduce its stake in Nissan. Reports also mention potential interest from Honda in acquiring Renault's Nissan shares.
La source: TheStar_news - 🏆 26. / 59 Lire la suite »