Their collaboration would create the world’s third largest automaker, expanding development of EVs and self-driving tech while coming to the rescue of struggling Nissan.
Honda and Nissan -- Japan’s number two and three automakers after Toyota -- are aiming to finalise a merger deal in June 2025, several media outlets said.
In the morning, the presidents of Honda, Nissan and Mitsubishi Motors told the industry and transport ministries of their plan to start negotiations, Kyodo News reported.
Lacklustre consumer spending and stiff competition in several markets is making life hard for many automakers.
China overtook Japan as the biggest vehicle exporter last year, helped by government support for EVs.
He declined to comment on the merger reports but highlighted the “importance of strengthening competitiveness in areas such as... batteries and in-vehicle software”.
But Taiwanese electronics manufacturer Foxconn has also reportedly sensed an opportunity.
Then a Taiwanese media outlet said Foxconn’s Jun Seki -- a former Nissan executive -- had visited France to ask Renault to sell its 35 percent share of Nissan, although reports later said this pursuit had been put on pause.
This partnership was joined in August by Mitsubishi Motors, of which Nissan is a majority shareholder.
Kyodo said that Honda would ask Nissan to achieve a “V-shaped recovery” in performance as a condition for the merger.
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