Honda and Nissan Deny Reports of Merger Talks Including Mitsubishi Amid EV Competition

Dec 17, 2024, 05:41 PM

Honda Motor Co. and Nissan Motor Co. are reportedly preparing to enter negotiations toward a possible merger, according to Japan's Nikkei. The potential merger aims to combine resources to better compete against Tesla and Chinese electric vehicle manufacturers in a rapidly changing automobile industry. The plan may include integrating Mitsubishi Motors, in which Nissan holds a 24% stake, potentially forming the world's largest automotive group. The move comes as the companies face declining sales and production cuts. However, Nissan and Honda have stated that the content of the report is not something that has been announced by either company.