Honda and Nissan in Merger Talks to Combat EV Competition

Honda Motor and Nissan Motor are reportedly merging their companies and are set to start negotiations soon, according to Japanese media. The news, reported by the Nikkei newspaper on Tuesday, comes as both auto giants struggle to compete with the largest global electric vehicle (EV) makers, including Tesla and Chinese automaker BYD.The merger plans have not been confirmed by either company. On Tuesday, both companies released identical statements denying the reports.

\'As announced in March of this year, Honda and Nissan are exploring various possibilities for future collaboration, leveraging each other's strengths,' the companies said in separate statements. \Honda 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 ($38.8 billion) and 1.17 trillion yen ($7.6 billion). \In November, Nissan cut its global workforce by 9,000 in a set of massive layoffs, diminishing its global production capacity by 20%. At the time, the company explained that it was 'facing a severe situation' and laid out a plan to achieve 'healthy growth.' The goals included reducing fixed costs by 300 billion yen (around $1.9 billion) and variable costs by 100 billion yen (roughly $649 million). \'The company is implementing various measures to lower selling, general, and administrative expenses, decrease the cost of goods sold, rationalize its asset portfolio, and prioritize capital expenditures and investments in research and development,' Nissan said in a statement at the time

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

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.
Fonte: FoxBusiness - 🏆 458. / 53 Leggi di più »

Honda and Nissan Reportedly in Merger TalksJapanese automakers Honda and Nissan are exploring the possibility of a merger to strengthen their position in the competitive automotive market.
Fonte: nbcchicago - 🏆 545. / 51 Leggi di più »

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.
Fonte: CBSLA - 🏆 552. / 51 Leggi di più »

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.
Fonte: engadget - 🏆 276. / 63 Leggi di più »

Honda and Nissan in Merger Talks to Boost CompetitionNissan and Honda are reportedly in talks to merge, aiming to strengthen their position in the fiercely competitive automotive industry. The potential merger, which could involve a holding company structure, would be the largest in the industry since Fiat Chrysler and PSA Groupe united.
Fonte: CNBC - 🏆 12. / 72 Leggi di più »

Japan's Honda and Nissan to reportedly begin merger talksNissan and Honda plan to enter into negotiations for a merger to better compete in the rapidly changing automotive industry, the Nikkei newspaper reported.
Fonte: nbcsandiego - 🏆 524. / 51 Leggi di più »