TOKYO: Japanese auto giants Honda and Nissan are in preliminary merger talks, media reports said on Wednesday .
A Honda spokesman said Wednesday that a potential merger was already among the possibilities being discussed. Nissan shares rose more than 20 per cent in early trade while Honda was off more than one percent. Mitsubishi Motors -- of which Nissan is the top shareholder -- gained 14 per cent. Honda and Nissan earlier issued almost identical statements in response, saying the details in the report had not been announced by either side.
China overtook Japan as the world's biggest vehicle exporter in 2023, helped by its dominance in EVs, a sector where Japanese firms have lost ground by focusing on hybrid vehicles.
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