Honda and Nissan suspend merger talks due to change in strategy
Kyiv • UNN
Honda and Nissan have suspended negotiations on their planned merger less than two months after the announcement. The companies will continue to cooperate in the field of automotive technology, while Nissan will look for a new partner.
After the planned deal was canceled, the automakers promised to “cooperate in a strategic partnership.
Reported by UNN with reference to The Wall Street Journal.
Details
Honda and Nissan on Thursday officially canceled their planned merger less than two months after announcing it. Merger negotiations began in December 2024 - it was planned to join forces in the electric vehicle sector, but the development of agreements slowed down, the parties faced contradictions. For example, Honda had a desire to take control of the new company.
The two companies said they would continue their cooperation in automotive technology, which was announced in 2024.
Analysts and representatives of the automotive industry say that Nissan is likely to look for a new partner to help strengthen its finances and collaborate on technology.
Taiwanese electronics manufacturer Foxconn, best known for assembling iPhones and other Apple products, is one of the candidates. Yang Liu, Foxconn's chairman, said on Wednesday that he is open to cooperation with Nissan, but does not intend to insist on acquiring the company.
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Liu said that Foxconn is in talks with Renault, Nissan's longtime French partner, about potential cooperation. Under a 2023 agreement, Renault will gradually reduce its stake in Nissan to about 15%.
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In November, Nissan said it would cut 9,000 jobs and reduce global capacity by a fifth after facing problems in its two largest markets, the United States and China.
