Honda Motor and Nissan Motor are reportedly in the process of merging their companies and are set to start negotiations soon, according to Japanese media.The news, which was first reported by the Nikkei newspaper on Tuesday, comes as both auto giants struggle to compete with the largest global electric vehicle makers, including Tesla and Chinese automaker BYD.The merger plans have not been confirmed by either company.
MILLIONS OF CAR OWNERS ARE DELAYING MAINTENANCE REPAIRS AS COSTS RISEHonda and Nissan are the second and third-largest auto manufacturers in Japan, respectively, with Toyota leading them both.The respective market capitalizations of Honda and Nissan are roughly 5.95 trillion yen and 1.17 trillion yen .GET FOX BUSINESS ON THE GO BY CLICKING HEREIn November, Nissan cut its global workforce by 9,000 in a set of massive layoffs, diminishing its global production capacity by 20%.
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Nissan, Honda Shares React to Merger SpeculationNissan's stock surged while Honda's dipped after reports that the Japanese automakers might merge under a holding company. The Nikkei newspaper reported that Honda and Nissan are planning to sign a memorandum of understanding soon, potentially bringing Mitsubishi Motors, in which Nissan holds a 24% stake, under the umbrella. While Nissan confirmed exploring collaboration possibilities, no decisions have been made.
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Honda and Nissan in Merger Talks to Compete with TeslaJapanese automakers Honda Motor and Nissan Motor are reportedly in merger talks to bolster their competitiveness against Tesla and other electric vehicle manufacturers.
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Nissan, Honda in Merger Talks, To Form Holding CompanyNissan shares surged 22% while Honda Motor stock slipped following media reports that the two Japanese automakers were potentially considering a merger. According to a report in the Nikkei newspaper, Honda and Nissan are considering operating under a holding company, and soon will sign a memorandum of understanding. They also look to eventually bring Mitsubishi Motors, in which Nissan is the top shareholder with a 24% stake, under the holding company.
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Honda and Nissan Reportedly in Merger Talks Amid EV CompetitionJapanese media reports suggest Honda and Nissan are merging, aiming to strengthen their position against major electric vehicle players like Tesla and BYD. While both companies have denied the merger claims, they acknowledged exploring collaboration opportunities.
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