Nissan, Honda Discuss Closer Collaboration, Merger Rumors Swirl

Japanese automakers Nissan Motor Corp. and Honda Motor Co. confirmed Wednesday that they are discussing closer collaboration but denied reports they have decided on a merger. Nissan's share price soared nearly 24% in Tokyo after reports citing unnamed sources said it might merge with Honda to form the world's third-largest automaking group. Honda's share price fell as much as 3%. Nissan alliance member Mitsubishi Motors Corp. is also part of the talks.

Trading in Nissan's shares was suspended but then resumed after the companies jointly issued a statement saying they were 'considering various possibilities for future collaboration, but no decisions have been made.'The ascent of Chinese automakers is rattling the industry at a time when manufacturers are struggling to shift from fossil fuel-driven vehicles to electrics. Relatively inexpensive EVs from China's BYD, Great Wall and Nio are eating into the market shares of U.S. and Japanese car companies in China and elsewhere. Japanese automakers have lagged behind big rivals in EVs and are now trying to cut costs and make up for lost time. Nissan, Honda and Mitsubishi announced in August that they will share components for electric vehicles like batteries and jointly research software for autonomous driving to adapt better to dramatic changes in the auto industry centered around electrification. A preliminary agreement between Honda, Japan's second-largest automaker, and Nissan, third largest, was announced in March. A merger could result in a behemoth worth about $55 billion based on the market capitalization of all three automakers. Joining forces would help the smaller Japanese automakers add scale to compete with Japan's market leader Toyota Motor Corp. and with Germany's Volkswagen A

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nissan and Honda Discuss Closer Collaboration, Merger Rumors SwirlNissan and Honda are in talks for closer collaboration, including a possible merger, to better compete with Chinese automakers and the shift towards electric vehicles.
Source: wsyx6 - 🏆 444. / 53 Read more »

Nissan and Honda Discuss Closer Collaboration, Denying Merger ReportsJapanese carmakers Nissan and Honda are exploring closer ties, but have denied rumors of a merger. While their shares saw significant fluctuations, the companies confirmed they are discussing future collaboration possibilities.
Source: KUTV2News - 🏆 281. / 63 Read more »

Nissan and Honda in Talks for Closer Collaboration, Merger Rumors DeniedJapanese automakers Nissan and Honda confirmed discussions for closer collaboration, but denied reports of a merger. While no decisions have been made, the automakers are 'considering various possibilities for future collaboration.' The talks involve Mitsubishi Motors Corp., another member of the Nissan alliance. The news comes amidst rising competition from Chinese automakers in the electric vehicle market and a push for industry consolidation.
Source: cbsaustin - 🏆 595. / 51 Read more »

Nissan, Honda Confirm Talks on Closer Collaboration but Not a MergerNissan and Honda are exploring deeper ties but haven't agreed to a merger. The news sent Nissan's stock soaring while Honda's dipped. Both companies emphasized that no final decisions have been made.
Source: CBS21NEWS - 🏆 304. / 63 Read more »

Honda and Nissan Reportedly to Discuss MergerJapanese automakers Honda and Nissan are considering a merger to better compete in the global automotive industry. The proposed merger would involve the creation of a holding company, with the potential inclusion of Mitsubishi Motors.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Nissan and Honda Discuss Collaboration, Denying Merger RumorsNissan and Honda are exploring closer collaboration but have not decided on a merger, despite reports suggesting otherwise. Nissan's share price surged after merger speculation, but the companies clarified they are merely considering various possibilities.
Source: AP - 🏆 728. / 51 Read more »