Nissan and Honda announced a merger, set to be completed by August 2026.
Japanese auto majors Honda Motor Company (Honda), Nissan Motor (Nissan) and Mitsubishi Motors Corporation (Mitsubishi Motors) joined hands to co-develop future products.
Honda and Nissan signed a memorandum of understanding to formally begin talks to deepen the partnership.
Both Nissan and Honda will operate as fully owned subsidiaries of this company.
They aim to become a “world-class mobility company” with sales revenue exceeding 30 trillion yen and operating profit of more than 3 trillion yen.
Honda and Nissan plan to complete the talks by June 2025. They will establish a joint holding company through a joint share transfer.
Due to a decline in sales in China and the US, Nissan Motor has been struggling to reduce costs by USD 2.6 billion in the current fiscal year.
