December 23, 2024

Japanese automakers Nissan and Honda on Monday announced they had entered into official talks to merge and create the world's third-largest automaker by sales.

In a news conference on Monday, Honda CEO Toshihiro Mibe said the companies needed greater scale to compete in the development of new technologies in electric vehicles and intelligent driving. A business integration would give the companies an "edge that will not be possible under the current collaboration framework," Mibe said, according to a translation.

The deal would aim to share intelligence and resources and deliver economies of scale and synergies while protecting both brands, he said.

Read more:

https://www.cnbc.com/2024/12/23/honda-and-nissan-merger-talks.html