Official announcements from Honda and Nissan, automotive industry news

Honda and Nissan Set to Announce Merger Talks Today, Targeting June 2025 Agreement with Mitsubishi Joining

Dec 23, 2024, 02:57 AM

Honda Motor Co. and Nissan Motor Co. are set to announce the commencement of merger talks aimed at deepening their business ties. The two Japanese automakers, facing challenges in a rapidly evolving automotive industry, are reportedly targeting a final agreement by June 2025. This move comes as both companies confront pressures from overcapacity and the need for substantial investments in electric vehicle (EV) and self-driving technologies. Mitsubishi Motors, which is under Nissan's umbrella, is also expected to join the discussions in early 2025. The integration aims to enhance competitiveness against rising Chinese manufacturers, which have intensified competition in the global market. A joint press conference is scheduled for later today, where further details about the integration plan will be disclosed.