Honda and Nissan Reportedly in Merger Talks Amid EV Competition

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 (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 tossing water on 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

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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.
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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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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.
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Nissan and Honda Reportedly to Explore MergerReports suggest that Nissan and Honda are planning to enter merger negotiations to bolster their competitiveness in the evolving global automotive landscape.
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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.
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