Honda and Nissan Explore Merger to Rival Toyota

Honda Motor Co. and Nissan Motor Co. are exploring a potential merger, according to people familiar with the matter. The merger would create a singular rival to Toyota Motor Corp. in Japan and better position the combined company to face competitive challenges around the world.

Honda is considering several options including a merger, capital tie-up or the establishment of a holding company, Executive Vice President Shinji Aoyama said on Wednesday, following reports overnight of talks between the carmakers. The two have been holding preliminary talks about a combination, said the people, who asked not to be identified because discussions are private. One option being considered is the creation of a new holding company under which the combined businesses would operate, one of the people said. The transaction could also be expanded to include Mitsubishi Motors Corp., which already has capital ties with Nissan, the person said.Nissan shares weren’t trading early Wednesday and were set to rise due to increased buying interest, while Honda’s stock fell as much as 2%. A deal would effectively consolidate the Japanese auto industry into two main camps: One controlled by Honda, Nissan and Mitsubishi and another consisting of Toyota group companies. It would also provide them with more resources to compete with larger peers globally after downsizing long-held partnerships with other carmakers. Nissan has loosened ties with France’s Renault SA and Honda has backed away from General Motors Co. The move toward a merger would follow a decision by the two companies earlier this year to work together on electric vehicle batteries and software. At that time, Honda Chief Executive Officer Toshihiro Mibe floated the possibility of a capital tie-up with Nissan. “If the merger does materialize, it would provide short-term relief for Nissan’s financial struggles,” said Bloomberg Intelligence senior auto analyst Tatsuo Yoshid

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Honda and Nissan reportedly open merger talksWill Shanklin has been writing about gadgets, tech and their impact on humanity since 2011. Before joining Engadget, he spent five years creating and leading the mobile technology section for New Atlas. His work has also appeared on SlashGear, TechRadar, Digital Trends, AppleInsider, Android Central, HuffPost and others.
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