In an aerial view, model new Honda automobiles are displayed on the gross sales lot at Honda Marin on February 06, 2024 in San Rafael, California. Honda introduced the recall of 750,000 automobiles within the U.S. for an air bag defect that would unintentionally deploy the air baggage in a collision.Â
Justin Sullivan | Getty Photographs
Nissan Motor shares surged Wednesday following a media report that the Japanese automaker is trying to merge with Honda.
Nissan shares have been final buying and selling up 20%, whereas Honda shares slipped 2%.
Honda and Nissan are contemplating working beneath a holding firm, and shortly will signal a memorandum of understanding, in accordance with a report within the Nikkei newspaper. Additionally they look to finally carry Mitsubishi Motors, wherein Nissan is the highest shareholder with a 24% stake, beneath the holding firm, in accordance with the report.
The mixed Nissan-Honda-Mitsubishi enterprise would equate to greater than 8 million car gross sales yearly, in accordance with Nikkei. That may place the corporate among the many world’s largest automakers, however nonetheless under fellow Japanese automaker Toyota Motor, at 11.2 million in 2023, in addition to German automaker Volkswagen, which final yr reported gross sales of 9.2 million automobiles.
The merger report follows the 2 Japanese automakers getting into right into a strategic partnership earlier this yr on shared automotive parts and software program.
Such a tie-up can be the most important automotive business merger since Fiat Chrysler joined with France-based PSA Groupe to type Stellantis in January 2021.
It is a breaking information story. Please refresh for updates.
– Michael Wayland contributed to this report.
