"Today marks a pivotal moment as we begin discussions on business integration that has the potential to shape our future," said Nissan CEO Makoto Uchida.
"We are still at the stage of starting our review and we have not decided on a business integration yet," said Honda director Toshihiro Mibe. However, he added that the companies aim "to find a direction for the possibility of business integration by the end of January 2025."
The plan includes: standardizing vehicle platforms; unifying research and development teams; and optimizing manufacturing systems and facilities, which could lead to significant layoffs.
Nissan has been struggling in the market, particularly after managing to gain traction in EVs, while Honda maintains relatively stable financials.
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