Honda and Nissan in Merger Talks to Combat EV Competition

Japanese auto giants Honda and Nissan are in preliminary merger talks, according to media reports. A tie-up would aim to help them better compete against Tesla and Chinese electric vehicle makers. Japan's number two and three automakers behind Toyota had already agreed in March to explore a strategic partnership on EVs.

'We are discussing possibilities for cooperation between Honda and Nissan in the future, in a wide range of fields and in various areas, and those possibilities include the latest reports, but there is nothing decided,' a Honda spokesman told AFP on Wednesday. Nissan said: 'The content of the report is not something that has been announced by either company. As announced in March of this year, Honda and Nissan are exploring various possibilities for future collaboration, leveraging each other\'s strengths. Major automakers the world over have been reeling from tough competition in EVs, in particular from Chinese competitors such as BYD. Volkswagen is considering closing German factories for the first time, while General Motors said this month it would book more than $5 billion in writedowns on its Chinese joint venture. Last month Nissan announced 9,000 job cuts, slashed its sales forecasts and said it would reduce global production capacity by 20 percent. Nissan has seen a turbulent decade that included the shock 2018 arrest of former boss Carlos Ghosn, who later jumped bail and fled Japan in a music equipment box. A major alliance with French automaker Renault turned into a bumpy ride for both and the two companies are now 'rebalancing' their ties. Shares in Nissan soared more than 20 percent on the stories in the Nikkei, Financial Times and others, while Honda dipped more than two percent. Mitsubishi Motors - of which Nissan the top shareholder - gained 13 percent

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Honda and Nissan in Merger Talks to Bolster EV CompetitivenessHonda and Nissan are reportedly in preliminary merger discussions, aiming to strengthen their position against Tesla and Chinese electric vehicle manufacturers. The potential tie-up, which could involve Mitsubishi Motors, would create a three-way all-Japanese automotive partnership. While both companies have confirmed discussions, no final decisions have been made.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Nissan Seeks Investment Amid Troubled Times and Potential Stake SaleNissan is facing significant challenges, aiming to cut global production and workforce, with insiders suggesting severe financial strain. The company may have only 12 to 14 months to survive unless it receives support from key partners like Renault and Japan, while Renault plans to reduce its stake in Nissan. Reports also mention potential interest from Honda in acquiring Renault's Nissan shares.
Source: TheStar_news - 🏆 26. / 59 Read more »

MK Party Member Rejects Claims of Pushing for EFF-MKP MergerDali Mpofu, a member of MK, denied allegations by EFF leader Julius Malema that he suggested the merger of EFF with MK party. Mpofu called these claims a 'lie'.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

EFF Advocate Dali Mpofu Rejects Claims of Proposing Party MergerAdvocate Dali Mpofu denies allegations that he proposed the Economic Freedom Fighters (EFF) should merge with the uMkhonto weSizwe (MK) Party. He clarifies that he only suggested the unification of progressive political parties.
Source: ewnupdates - 🏆 30. / 53 Read more »

Big twist in Vodacom, Maziv merger sagaTrade, industry & competition minister Parks Tau will appeal the Competition Tribunal’s decision to prohibit the deal.
Source: TechCentral - 🏆 8. / 71 Read more »

MultiChoice to Contest 'Notifiable Merger' Finding in 2013 SABC DealMultiChoice will appear before the Competition Tribunal to contest a finding that a 2013 agreement with SABC constituted a 'notifiable merger', violating the Competition Act. The deal involved the broadcasting rights of SABC's 24-hour news channel and SABC Encore for five years. The applicants in the case are media house Caxton, lobby group SOS Coalition, and the Media Monitoring Project Benefit Trust. The agreement also included the SABC's agreement to MultiChoice's position on digital migration.
Source: TechCentral - 🏆 8. / 71 Read more »