Makoto Uchida, president and CEO of Nissan Motor, and Toshihiro Mibe, Honda Motor president and CEO, attend their joint press conference in Tokyo, Japan March 15, 2024. - Kyodo via REUTERS
The pair have not released any details publicly but it was widely reported in Japanese media that they would sign a memorandum of understanding on Monday afternoon. In the morning, the presidents of Honda, Nissan and Mitsubishi Motors told the industry and transport ministries of their plan to start negotiations, Kyodo News reported.
Business has been especially tough for foreign brands in China, where electric vehicle manufacturers such as BYD are leading the way as demand grows for less polluting vehicles. He declined to comment on the merger reports but highlighted the “importance of strengthening competitiveness in areas such as... batteries and in-vehicle software”.
Honda and Nissan had already agreed in March to explore a strategic partnership on software and components for EVs among other technologies.
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