TOKYO, Dec. 23 (Xinhua) — Major Japanese carmakers Honda Motor and Nissan Motor are aiming to conclude their merger talks in June 2025, native media reported Monday.
The two corporations are anticipated to strike a primary settlement on Monday to open full-fledged talks on a merger, which might kind the world’s third largest automaker group by quantity after Toyota Motor and Volkswagen AG, Kyodo News reported, citing sources acquainted with the matter.
Honda and Nissan, Japan’s second- and third-largest automakers by quantity, respectively, are contemplating to function below a holding firm with Mitsubishi Motors, a Nissan companion, the report stated.
Sources stated nearly all of the holding firm’s inside and out of doors administrators are anticipated to be nominated by Honda, including that the president of the holding firm is prone to be a Honda-appointed director.
The transfer is aimed toward bettering price competitiveness and making inroads into the electrical car market dominated by opponents from the United States and China, it added.
Honda and Nissan agreed in March this yr to begin a feasibility research on a strategic partnership in EV manufacturing and software program applied sciences to chop prices and enhance competitiveness, with Mitsubishi Motors becoming a member of the talks in August.