Honda and Nissan have signed a memorandum of understanding to pursue a merger, aimed at creating the world's third-largest automaker, as the industry shifts toward electric vehicles.
Honda’s president, Toshihiro Mibe, stated that the merger aims for a formal agreement by June 2024, with a completion target of August 2026, though uncertainty remains.
With Foxconn's interest in Nissan and the collaboration between Honda, Nissan, and Mitsubishi, the merger could enhance their competitive edge against larger rivals like Toyota and Volkswagen.
Despite the merger, Toyota remains a giant in the industry, having produced 11.5 million vehicles in 2023, highlighting the challenges that smaller companies face.
Collection
[
|
...
]