It was expected, it's now official. Japanese automobile giant Honda and its struggling compatriot Nissan will open negotiations for a merger which could be completed by June 2025, Nissan announced in a press release on Monday, December 23. This merger could give rise to the world number three in the sector, after Toyota and Volkswagen. The two manufacturers aim to list the merged entity on the stock market in August 2026.
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Mitsubishi Motors, of which Nissan is the main shareholder, will be able to join the discussions to integrate the new industrial alliance within a « holding unique ». This announcement comes a few weeks after heavily indebted Nissan announced it would cut 9,000 positions from its global workforce and cut its production capacity. In its two key markets, its sales have plunged: in the United States, due to a lack of plug-in hybrids in the face of strong demand, and in China, due to the domination of local brands in all-electric vehicles. Honda boss Toshihiro Mibe said the merger was not aimed at “to help” at Nissan, during a press conference Monday morning.
Towards all-electric
Undermined by “power struggles” internal, Nissan “marginalized himself due to his own mistakes” and is today “in panic mode, begging his eternal enemy”denounced the former boss of the manufacturer, Carlos Ghosn, to the press on Monday.
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Honda, for its part, would benefit from an enlarged entity to effectively launch fully electric cars, after the failure of a joint project with the American General Motors. The group is aiming for 100% electric vehicles by 2040.
Japanese groups have long focused on hybrids (combining thermal and electric engines), neglecting the global rise of all-electric technology. China has thus overtaken Japan as the leading vehicle exporting country in 2023. Alarmed, Nissan and Honda unveiled a “strategic partnership” in software and components for electric vehicles. Initiative joined in August by Mitsubishi.
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