Honda and Nissan are set to announce the start of merger talks to help the Japanese giants catch up on Chinese rivals and Tesla on electric vehicles. Their collaboration would create the third largest car manufacturer in the worldexpanding the development of electric vehicles and self-driving technology and coming to the rescue of struggling Nissan. The two companies have not released details publicly, but it was widely reported in Japanese media that they had signed a memorandum of understanding on Monday afternoon.
Honda and Nissan, Japan’s second and third largest automakers after Toyota, aim to finalize a merger deal in June 2025, several news outlets said. TOMitsubishi Motors, which could join the new holding company early next year, is also expected to take part in the announcement. This morning, the presidents of Honda, Nissan and Mitsubishi Motors told the ministries of industry and transport of their plan to start negotiations, Japanese news agency Kyodo News reported. The partnership between Honda and Nissan could include a production agreement to build vehicles in their respective factories, Kyodo said, citing sources familiar with the matter.