The two companies are facing tough competition from fellow EV makers.
Japanese automakers Honda Motor Co. and Nissan Motor Co. are exploring the possibility of a merger, according to reports late Tuesday, in a bid to better compete against foreign electric-vehicle makers like Tesla Inc. and China's BYD.
Honda and Nissan are moving towards a closer tie-up with talks of setting up a holding company, a source said, in the clearest sign yet of reorganisation in Japan's auto industry in response to immense challenges posed by Tesla and Chinese rivals.
Bloomberg has learned that Honda Motor Co. and Nissan Motor Co. are exploring a potential merger. The two Japanese carmakers have been holding preliminary talks about a combination, according to people familiar with the matter.
Nissan and Honda are considering a merger to help them compete in the EV industry. The news sent Nissan stocks skyrocketing nearly 22% on Tuesday.
Honda shares fall 2% after media reports on potential merger with Nissan
Japanese automakers Honda (HMC) and Nissan (NSANY) plan to begin discussions about a potential merger, according to reports.
Japanese automakers Nissan Motor Co Ltd NSANY and Honda Motor Co Ltd HMC are reportedly negotiating a merger, first revealed by the Nikkei newspaper Tuesday, aiming to consolidate under a holding company and include Mitsubishi Motors.
Japanese automakers Honda Motor (NYSE:HMC) and Nissan Motor Co are reportedly set to begin merger negotiations to tackle mounting competition from global electric vehicle (EV) leaders like Tesla and China's BYD, the Nikkei reported on Tuesday. The merger would establish a single holding company and could include Mitsubishi Motors, in which Nissan holds a 24% stake, creating one of the world's largest auto groups.
Nissan Motor and Honda Motor plan to enter negotiations for a merger that will likely include Mitsubishi Motors, a deal intended to help the newly formed company compete in the growing electric vehicle market, the Japanese publication Nikkei reported Tuesday.
Nissan and Honda plan to enter into negotiations for a merger to better compete in the rapidly changing automotive industry, the Nikkei newspaper reported on Tuesday. Honda and Nissan are considering operating under a holding company, and soon will sign a memorandum of understanding, according to the report.
Japanese automobile giants Honda Motor and Nissan Motor will enter negotiations toward a merger and join their resources to better compete against larger electric vehicle makers globally, the Nikkei newspaper reported on Tuesday.