Honda, Nissan officially begin talks to merge

December 23, 2024

Brock Koller

Summary

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Japanese automakers Honda and Nissan have agreed to begin talks of a merger, which would create the world’s third-largest automaker in terms of sales. At a press conference Monday, Dec. 23, the two companies, along with smaller automaker Mitsubishi Motors, announced they signed a memorandum of understanding to formally begin merger talks.

Over the next six months, Honda and Nissan will discuss the best ways to combine their operations, with the goal of a completed deal for August 2026.

“The rise of Chinese automakers and new players has changed the car industry quite a lot,” said Honda CEO Toshihiro Mibe, referring to the rise of electric and driverless vehicles. “We have to build up capabilities to fight with them by 2030, otherwise we’ll be beaten.”

Currently, Honda sells nearly 4 million vehicles a year and Nissan more than 3 million. Meanwhile, Toyota, the No. 1 car brand in the world, sells around 11 million and Volkswagen, the No. 2 automaker, sells approximately 9 million vehicles a year.

Tags: Auto industry, cars, Honda, Japan, Mitsubishi, Nissan

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Summary

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Full story

Over the next six months, Honda and Nissan will discuss the best ways to combine their operations, with the goal of a completed deal for August 2026.

Tags: Auto industry, cars, Honda, Japan, Mitsubishi, Nissan

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Why this story matters

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