Honda and Nissan will begin negotiations for a potential merger to better compete with larger global EV makers, reports Nikkei.
The plan involves operating under a single holding company, with Nissan as the top shareholder, potentially creating one of the worldβs largest auto groups.
π·: Reuters
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The plan involves operating under a single holding company, with Nissan as the top shareholder, potentially creating one of the worldβs largest auto groups.
π·: Reuters
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The second and third largest Japanese car manufacturers had combined sales of 7.4 million in 2023, but face growing competition from Chinese rivals such as BYD and Li Auto.
Both have forged stronger ties in recent months, before deciding on forces to develop EV technology.
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Both have forged stronger ties in recent months, before deciding on forces to develop EV technology.
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"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.
They added that they would inform stakeholders of any updates at the appropriate time.
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They added that they would inform stakeholders of any updates at the appropriate time.
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The EV price war launched by Tesla and Chinese automaker BYD has intensified pressure on companies losing money on next-generation vehicles.
This has pushed Honda and Nissan to seek cost-cutting measures and accelerate vehicle developmen.
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This has pushed Honda and Nissan to seek cost-cutting measures and accelerate vehicle developmen.
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