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Honda, Nissan, and Mitsubishi in Talks to Form World's Third-Largest Automaker Amid EV Competition

Dec 17, 2024, 07:54 PM

According to reports from Japan's Nikkei newspaper, Honda Motor Co. and Nissan Motor Co. are preparing to enter negotiations toward a merger, potentially through the establishment of a holding company. The merger aims to combine their resources to better compete against Tesla and Chinese electric vehicle manufacturers in the rapidly changing global automobile industry. The talks may ultimately include Mitsubishi Motors Corp., in which Nissan holds a 24% stake, potentially creating one of the world's largest auto groups with combined sales exceeding 8 million units and aiming to become the world's third-largest automaker. When asked about the potential merger, Honda President Toshihiro Mibe did not deny the possibility, stating, "I think it's possible." The move reflects the Japanese automakers' efforts to accelerate electric vehicle development and tackle the increasing competition from global EV leaders like Tesla and rising Chinese EV makers.