Japan’s Honda and Nissan merge to form world’s third-largest carmaker, amid EV transition

Quick Summary:

This move comes as the industry transitions away from fossil fuels and towards electric vehicles, where Japanese companies have lagged behind their rivals.

News of a possible merger surfaced earlier this month, with unconfirmed reports saying that the talks on closer collaboration partly were driven by aspirations of Taiwan iPhone maker Foxconn to tie up with Nissan, which has an alliance with Renault SA of France and Mitsubishi.

Carmakers in Japan have lagged behind their big rivals in electric vehicles and are trying to cut costs and make up for lost time.

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Article Details

Author / Journalist: Associated Press

Category: Business

Markets: Hong KongChinaFranceJapanTaiwan

Topics: Japanese China Announced Nissan Honda Join Alliance Mitsubishi Carmakers Talks Forces

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-23 @ 17:30:11 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 202 words

Reading Time: 2 minutes read

Sentences: 5 lines

Sentence Length: 41 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 24594544

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