Honda and Nissan to Explore Merger

Japanese automakers Nissan and Honda agreed to consider a merger and set up a joint holding company, which would create the world's third-largest automaker.The two companies said in a statement Monday that they would seek combined sales of $191 billion and an operating profit of more than $19 billion through the potential merger.The companies hope to wrap up negotiations around June 2025 and set up a holding company by August 2026, when both companies' shares will be delisted.

The merger talks come as both automakers struggle to compete with the largest global electric vehicle makers, including Tesla and Chinese automaker BYD.The merger would create the world's third-largest auto group by vehicle sales, behind Toyota and Volkswagen.Honda, the second-biggest Japanese automaker behind Toyota, has a market capitalization of more than $40 billion, while third-ranked Nissan is valued at about $10 billion.'Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future,' Nissan Director, President, CEO and Representative Executive Officer Makoto Uchida said in a statement. 'If realized, I believe that by uniting the strengths of both companies, we can deliver unparalleled value to customers worldwide who appreciate our respective brands. Together, we can create a unique way for them to enjoy cars that neither company could achieve alone.'Honda Director and Representative Executive Officer Toshihiro Mibe said: 'Creation of new mobility value by bringing together the resources including knowledge, talents, and technologies that Honda and Nissan have been developing over the long years is essential to overcome challenging environmental shifts that the auto industry is facing.'Honda and Nissan are two companies with distinctive strengths,' Mibe adde

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